Kaiser Aluminum (KALU) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Kaiser Aluminum (NASDAQ:KALU) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “Kaiser Aluminum is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company’s North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube, and wire products, adhering to traditions of quality, innovation, and service. Kaiser Aluminum is headquartered in Foothill Ranch, California. “
A number of other equities analysts have also weighed in on the stock. Goldman Sachs assumed coverage on shares of Kaiser Aluminum in a research report on Tuesday. They issued a neutral rating and a $111.00 price objective for the company. ValuEngine raised shares of Kaiser Aluminum from a hold rating to a buy rating in a research report on Wednesday, March 7th. Deutsche Bank cut their price objective on shares of Kaiser Aluminum from $107.00 to $103.00 and set a hold rating for the company in a research report on Tuesday, February 27th. BidaskClub lowered shares of Kaiser Aluminum from a buy rating to a hold rating in a research report on Tuesday, February 27th. Finally, Cowen reissued a hold rating and issued a $107.00 price objective on shares of Kaiser Aluminum in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $103.71.
Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.04). The firm had revenue of $353.00 million during the quarter, compared to analyst estimates of $348.95 million. Kaiser Aluminum had a net margin of 3.25% and a return on equity of 11.35%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. equities analysts expect that Kaiser Aluminum will post 6.46 EPS for the current year.
In related news, Director Alfred E. Osborne, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $104.40, for a total transaction of $104,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack A. Hockema sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $104.01, for a total transaction of $936,090.00. The disclosure for this sale can be found here. Insiders have sold 23,391 shares of company stock valued at $2,474,402 in the last ninety days. 3.00% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. NEXT Financial Group Inc purchased a new stake in Kaiser Aluminum during the third quarter worth approximately $124,000. Invictus RG grew its stake in Kaiser Aluminum by 140.9% during the third quarter. Invictus RG now owns 1,679 shares of the industrial products company’s stock worth $173,000 after buying an additional 982 shares during the period. First Interstate Bank purchased a new stake in Kaiser Aluminum during the fourth quarter worth approximately $182,000. We Are One Seven LLC purchased a new stake in Kaiser Aluminum during the fourth quarter worth approximately $192,000. Finally, Elkfork Partners LLC purchased a new stake in Kaiser Aluminum during the fourth quarter worth approximately $245,000.
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Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.
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