Kaiser Aluminum (KALU) Upgraded to Buy by BidaskClub
Kaiser Aluminum (NASDAQ:KALU) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Kaiser Aluminum from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Morgan Stanley raised their price objective on Kaiser Aluminum from $87.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 16th. Credit Suisse Group raised their price objective on Kaiser Aluminum from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 20th. Deutsche Bank cut Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 price objective for the company. in a research note on Tuesday, October 17th. Finally, Cowen set a $97.00 price objective on Kaiser Aluminum and gave the stock a “hold” rating in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $99.00.
Shares of Kaiser Aluminum (NASDAQ:KALU) traded up $0.74 during midday trading on Thursday, reaching $100.16. The company’s stock had a trading volume of 170,943 shares, compared to its average volume of 143,441. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.55 and a current ratio of 3.75. The firm has a market capitalization of $1,680.57, a P/E ratio of 19.27, a PEG ratio of 1.32 and a beta of 0.54. Kaiser Aluminum has a fifty-two week low of $74.56 and a fifty-two week high of $108.99.
In related news, VP Melinda C. Ellsworth sold 1,000 shares of Kaiser Aluminum stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $99.48, for a total transaction of $99,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack A. Hockema sold 5,982 shares of Kaiser Aluminum stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $102.66, for a total value of $614,112.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,982 shares of company stock valued at $1,637,622. Company insiders own 3.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Shell Asset Management Co. raised its position in Kaiser Aluminum by 80.6% during the third quarter. Shell Asset Management Co. now owns 31,579 shares of the industrial products company’s stock valued at $2,407,000 after acquiring an additional 14,089 shares in the last quarter. State Street Corp increased its position in shares of Kaiser Aluminum by 7.9% in the second quarter. State Street Corp now owns 686,950 shares of the industrial products company’s stock valued at $60,811,000 after buying an additional 50,201 shares in the last quarter. Summit Global Investments increased its position in shares of Kaiser Aluminum by 29.5% in the second quarter. Summit Global Investments now owns 5,700 shares of the industrial products company’s stock valued at $505,000 after buying an additional 1,300 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Kaiser Aluminum in the second quarter valued at approximately $1,328,000. Finally, Victory Capital Management Inc. increased its position in shares of Kaiser Aluminum by 1.1% in the second quarter. Victory Capital Management Inc. now owns 503,984 shares of the industrial products company’s stock valued at $44,613,000 after buying an additional 5,577 shares in the last quarter. Institutional investors own 98.03% of the company’s stock.
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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