Kaiser Aluminum (NASDAQ:KALU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued 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 research firms also recently issued reports on KALU. BidaskClub raised shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a report on Friday, December 29th. Goldman Sachs began coverage on shares of Kaiser Aluminum in a report on Tuesday. They issued a “neutral” rating and a $111.00 price objective for the company. 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 report on Tuesday, February 27th. Cowen reissued a “hold” rating and issued a $107.00 price objective on shares of Kaiser Aluminum in a report on Friday, February 23rd. Finally, ValuEngine raised shares of Kaiser Aluminum from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $103.71.
Shares of KALU stock opened at $103.50 on Wednesday. The company has a market cap of $1,772.81, a PE ratio of 40.27, a P/E/G ratio of 1.09 and a beta of 0.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.59 and a current ratio of 3.79. Kaiser Aluminum has a twelve month low of $76.73 and a twelve month high of $116.86.
Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.04). The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $348.95 million. Kaiser Aluminum had a return on equity of 11.35% and a net margin of 3.25%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 EPS. analysts forecast that Kaiser Aluminum will post 6.46 earnings per share for the current fiscal year.
In other news, Director Alfred E. Osborne, Jr. sold 1,000 shares of the business’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 value of $104,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jack A. Hockema sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were 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 sold a total of 23,391 shares of company stock valued at $2,474,402 in the last three months. Insiders own 3.00% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its position in Kaiser Aluminum by 3.0% during the 4th quarter. BlackRock Inc. now owns 2,152,997 shares of the industrial products company’s stock worth $230,049,000 after purchasing an additional 63,184 shares in the last quarter. Standard Life Aberdeen plc boosted its stake in shares of Kaiser Aluminum by 4.0% in the 4th quarter. Standard Life Aberdeen plc now owns 631,863 shares of the industrial products company’s stock valued at $67,565,000 after purchasing an additional 24,030 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Kaiser Aluminum by 22.4% in the 4th quarter. Victory Capital Management Inc. now owns 548,604 shares of the industrial products company’s stock valued at $58,618,000 after purchasing an additional 100,461 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Kaiser Aluminum by 3.4% in the 4th quarter. Macquarie Group Ltd. now owns 456,255 shares of the industrial products company’s stock valued at $48,751,000 after purchasing an additional 15,026 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Kaiser Aluminum by 4.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 350,614 shares of the industrial products company’s stock valued at $37,463,000 after purchasing an additional 14,436 shares during the last quarter.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://ledgergazette.com/2018/03/21/kaiser-aluminum-kalu-rating-lowered-to-hold-at-zacks-investment-research.html.
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.
Receive News & Ratings for Kaiser Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaiser Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.