Century Aluminum Company (NASDAQ:CENX) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Century Aluminum Company (NASDAQ:CENX) from a hold rating to a strong-buy rating in a research note published on Tuesday morning. They currently have $19.00 price objective on the industrial products company’s stock.
According to Zacks, “Estimates for the current quarter for Century Aluminum have been going up lately. Century Aluminum has outperformed the industry it belongs to over a year. Century Aluminum is implementing a number of actions to reduce costs and preserve cash amid a weak operating environment. It should also gain from strong aluminum demand across automotive and aerospace markets in its key regions, North America and China, as well as acquisitions. Moreover, the company has low debt and short-term obligations which will help it remain strong in an adverse environment.”
Several other equities analysts also recently weighed in on CENX. BidaskClub upgraded Century Aluminum from a hold rating to a buy rating in a research report on Friday, June 9th. BMO Capital Markets reiterated a hold rating and set a $14.00 target price on shares of Century Aluminum in a research report on Wednesday, April 26th. Deutsche Bank AG upgraded Century Aluminum from a sell rating to a hold rating and lifted their target price for the company from $10.00 to $15.00 in a research report on Friday, June 23rd. Finally, Cowen and Company lowered their target price on Century Aluminum from $11.00 to $8.00 and set a market perform rating on the stock in a research report on Wednesday, April 19th. Six analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $14.20.
Century Aluminum (CENX) traded down 0.638% on Tuesday, reaching $13.245. The company’s stock had a trading volume of 4,830,448 shares. The stock’s market cap is $1.16 billion. The company’s 50 day moving average price is $16.28 and its 200-day moving average price is $14.43. Century Aluminum has a 12-month low of $5.53 and a 12-month high of $19.08.
Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.28. The firm had revenue of $388.80 million during the quarter, compared to analysts’ expectations of $398.33 million. Century Aluminum had a negative return on equity of 5.85% and a negative net margin of 18.40%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) earnings per share. On average, equities analysts expect that Century Aluminum will post $0.63 EPS for the current year.
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In related news, insider Michael A. Bless sold 27,618 shares of Century Aluminum stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $14.88, for a total transaction of $410,955.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its stake in Century Aluminum by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 9,816 shares of the industrial products company’s stock worth $152,000 after buying an additional 4,326 shares in the last quarter. Clinton Group Inc. acquired a new stake in Century Aluminum during the first quarter worth approximately $143,000. Mason Street Advisors LLC boosted its stake in Century Aluminum by 7.2% in the first quarter. Mason Street Advisors LLC now owns 11,629 shares of the industrial products company’s stock worth $148,000 after buying an additional 783 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Century Aluminum by 3.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,730 shares of the industrial products company’s stock worth $183,000 after buying an additional 370 shares in the last quarter. Finally, 361 Capital LLC acquired a new stake in Century Aluminum during the first quarter worth approximately $162,000. 65.06% of the stock is currently owned by institutional investors and hedge funds.
Century Aluminum Company Profile
Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company’s primary aluminum facilities produce standard grade primary aluminum products.
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