Kaiser Aluminum (NASDAQ:KALU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “KAISER ALUMINUM is a leading producer of fabricated aluminum products for aerospace and high strength, general engineering, automotive, and custom industrial applications. Repeatedly acknowledged as Best in Class among its global customer base,Their 11 fabrication plants typically produce and ship more than 500 million pounds of product annually. “
Several other research analysts have also recently weighed in on KALU. Cowen cut Kaiser Aluminum from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $96.00 to $97.00 in a research report on Monday, August 7th. They noted that the move was a valuation call. BidaskClub cut Kaiser Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Deutsche Bank cut Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 price target for the company. in a research report on Tuesday, October 17th. Credit Suisse Group increased their price target on Kaiser Aluminum from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, October 20th. Finally, Morgan Stanley increased their price target on Kaiser Aluminum from $87.00 to $101.00 and gave the company an “equal weight” rating in a research report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Kaiser Aluminum presently has a consensus rating of “Hold” and an average price target of $99.00.
Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.19). The firm had revenue of $332.80 million for the quarter, compared to analyst estimates of $335.37 million. Kaiser Aluminum had a return on equity of 11.45% and a net margin of 6.18%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.02 earnings per share. sell-side analysts anticipate that Kaiser Aluminum will post 5.04 earnings per share for the current fiscal year.
In other Kaiser Aluminum news, CEO Jack A. Hockema sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $102.67, for a total value of $924,030.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carolyn Bartholomew sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $99.00, for a total value of $99,000.00. Following the completion of the sale, the director now owns 13,344 shares in the company, valued at approximately $1,321,056. The disclosure for this sale can be found here. Insiders sold 16,982 shares of company stock worth $1,736,622 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC bought a new position in shares of Kaiser Aluminum during the first quarter worth approximately $112,000. SG Americas Securities LLC bought a new position in shares of Kaiser Aluminum during the first quarter worth approximately $119,000. Ameritas Investment Partners Inc. bought a new position in Kaiser Aluminum during the 1st quarter worth $122,000. NEXT Financial Group Inc bought a new position in Kaiser Aluminum during the 3rd quarter worth $124,000. Finally, First Mercantile Trust Co. increased its stake in Kaiser Aluminum by 1.4% during the 2nd quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 20 shares during the period. Institutional investors own 98.03% of the company’s stock.
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Kaiser Aluminum Company Profile
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.
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