Century Aluminum (NASDAQ:CENX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Century Aluminum has outperformed the industry it belongs to over a year. The company is likely to gain from its initiatives to reduce operating costs. It is also expected to benefit from strong aluminum demand across automotive and aerospace markets as well as from acquisitions. However, Century Aluminum is seeing high costs for certain key raw materials, which will weigh on its margins. The company also has to pay a high price for power for the Mt. Holly smelter. Moreover, high levels of production from China is still hurting the aluminum industry.”
Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of Century Aluminum from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. raised shares of Century Aluminum from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $18.00 to $14.50 in a research report on Wednesday. Cowen raised shares of Century Aluminum from a “market perform” rating to an “outperform” rating and raised their price target for the company from $23.00 to $30.00 in a research report on Tuesday. BMO Capital Markets raised shares of Century Aluminum from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research report on Sunday, March 11th. Finally, Deutsche Bank downgraded shares of Century Aluminum from a “buy” rating to a “hold” rating and reduced their price target for the company from $20.00 to $14.00 in a research report on Wednesday, December 20th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $21.10.
Century Aluminum (NASDAQ:CENX) opened at $20.56 on Friday. Century Aluminum has a one year low of $11.26 and a one year high of $24.77. The firm has a market cap of $1,790.65, a P/E ratio of 41.96 and a beta of 0.71. The company has a current ratio of 2.91, a quick ratio of 1.24 and a debt-to-equity ratio of 0.30.
Century Aluminum (NASDAQ:CENX) last announced its earnings results on Thursday, February 22nd. The industrial products company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. Century Aluminum had a net margin of 3.02% and a return on equity of 4.52%. The business had revenue of $433.80 million during the quarter, compared to the consensus estimate of $427.73 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The business’s revenue for the quarter was up 27.7% on a year-over-year basis. equities research analysts expect that Century Aluminum will post 1.53 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Century Aluminum during the fourth quarter valued at approximately $272,000. Macquarie Group Ltd. purchased a new stake in Century Aluminum in the third quarter worth approximately $275,000. Teacher Retirement System of Texas purchased a new stake in Century Aluminum in the fourth quarter worth approximately $350,000. Municipal Employees Retirement System of Michigan boosted its holdings in Century Aluminum by 59.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 18,660 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 6,930 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Century Aluminum in the fourth quarter worth approximately $410,000. 65.20% of the stock is owned by institutional investors.
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About Century Aluminum
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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