Kaiser Aluminum Corporation (NASDAQ:KALU) Upgraded to Buy at BidaskClub
Kaiser Aluminum Corporation (NASDAQ:KALU) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
Several other research firms have also recently weighed in on KALU. Zacks Investment Research cut shares of Kaiser Aluminum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Deutsche Bank AG reiterated a “buy” rating on shares of Kaiser Aluminum Corporation in a report on Saturday, June 24th. Cowen and Company restated an “outperform” rating and set a $96.00 target price (up previously from $92.00) on shares of Kaiser Aluminum Corporation in a report on Friday, April 21st. Finally, Sidoti upgraded shares of Kaiser Aluminum Corporation from a “neutral” rating to a “buy” rating and set a $109.00 target price on the stock in a report on Monday, March 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $92.14.
Kaiser Aluminum Corporation (KALU) traded down 0.10% during midday trading on Thursday, hitting $90.51. 232,618 shares of the stock were exchanged. The stock has a market cap of $1.56 billion, a PE ratio of 15.95 and a beta of 0.52. Kaiser Aluminum Corporation has a 1-year low of $69.41 and a 1-year high of $94.65. The company’s 50 day moving average is $84.23 and its 200-day moving average is $81.02.
Kaiser Aluminum Corporation (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, April 19th. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.40. The business had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $353.30 million. Kaiser Aluminum Corporation had a net margin of 7.55% and a return on equity of 10.73%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.51 earnings per share. On average, analysts expect that Kaiser Aluminum Corporation will post $4.79 earnings per share for the current year.
In other Kaiser Aluminum Corporation news, VP Neal E. West sold 2,500 shares of the business’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $84.54, for a total value of $211,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ray Parkinson sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $80.75, for a total value of $161,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 9,377 shares of company stock valued at $785,395. 3.00% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Kaiser Aluminum Corporation by 12,449.4% in the first quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock valued at $173,757,000 after buying an additional 2,157,364 shares during the last quarter. Victory Capital Management Inc. raised its stake in Kaiser Aluminum Corporation by 36,359.9% in the first quarter. Victory Capital Management Inc. now owns 498,407 shares of the industrial products company’s stock valued at $39,823,000 after buying an additional 497,040 shares during the last quarter. Norges Bank acquired a new stake in Kaiser Aluminum Corporation during the fourth quarter valued at approximately $21,690,000. Aberdeen Asset Management PLC UK raised its stake in Kaiser Aluminum Corporation by 18.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 627,706 shares of the industrial products company’s stock valued at $50,154,000 after buying an additional 96,509 shares during the last quarter. Finally, Robecosam AG raised its stake in Kaiser Aluminum Corporation by 150.0% in the first quarter. Robecosam AG now owns 125,000 shares of the industrial products company’s stock valued at $9,900,000 after buying an additional 75,000 shares during the last quarter. 98.16% of the stock is owned by hedge funds and other institutional investors.
About Kaiser Aluminum Corporation
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
Receive News & Ratings for Kaiser Aluminum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaiser Aluminum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.