Analysts Set Kaiser Aluminum Corp. (NASDAQ:KALU) Price Target at $89.80
Kaiser Aluminum Corp. (NASDAQ:KALU) has earned a consensus recommendation of “Hold” from the ten analysts that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $89.80.
A number of brokerages have recently commented on KALU. Zacks Investment Research lowered Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. Bank of America Corp. lowered Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $94.00 to $92.00 in a research note on Wednesday, July 20th. Seaport Global Securities started coverage on Kaiser Aluminum Corp. in a research note on Friday, September 9th. They issued a “buy” rating and a $100.00 price objective on the stock. Macquarie started coverage on Kaiser Aluminum Corp. in a research note on Tuesday, September 6th. They issued an “outperform” rating on the stock. Finally, Credit Suisse Group AG set a $85.00 price objective on Kaiser Aluminum Corp. and gave the stock a “hold” rating in a research note on Wednesday, July 20th.
Kaiser Aluminum Corp. (NASDAQ:KALU) opened at 86.49 on Friday. The stock’s 50 day moving average is $85.04 and its 200 day moving average is $86.36. The company has a market capitalization of $1.55 billion, a PE ratio of 17.48 and a beta of 0.62. Kaiser Aluminum Corp. has a 52 week low of $70.14 and a 52 week high of $96.06.
Kaiser Aluminum Corp. (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by $0.36. Kaiser Aluminum Corp. had a net margin of 6.59% and a return on equity of 9.70%. The firm had revenue of $335 million for the quarter, compared to analyst estimates of $351.72 million. During the same period in the previous year, the business posted $1.27 earnings per share. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts predict that Kaiser Aluminum Corp. will post $5.23 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of KALU. Tower Research Capital LLC TRC acquired a new position in shares of Kaiser Aluminum Corp. during the second quarter valued at about $190,000. PineBridge Investments L.P. raised its position in shares of Kaiser Aluminum Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 2,280 shares of the company’s stock valued at $206,000 after buying an additional 81 shares during the period. Teacher Retirement System of Texas raised its position in shares of Kaiser Aluminum Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,480 shares of the company’s stock valued at $224,000 after buying an additional 300 shares during the period. Barclays PLC increased its stake in Kaiser Aluminum Corp. by 400.2% in the second quarter. Barclays PLC now owns 2,526 shares of the company’s stock valued at $229,000 after buying an additional 2,021 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Kaiser Aluminum Corp. by 2.3% in the second quarter. ProShare Advisors LLC now owns 2,568 shares of the company’s stock valued at $232,000 after buying an additional 57 shares in the last quarter. 98.66% of the stock is currently owned by hedge funds and other institutional investors.
About Kaiser Aluminum Corp.
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications.
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