Kaiser Aluminum (KALU) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Kaiser Aluminum (NASDAQ:KALU) from a hold rating to a sell rating in a report published on Thursday morning.

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. “

Other equities analysts have also issued research reports about the company. BidaskClub lowered Kaiser Aluminum from a hold rating to a sell rating in a research note on Thursday, September 13th. Jefferies Financial Group upgraded Kaiser Aluminum from a hold rating to a buy rating and set a $123.00 price target on the stock in a research note on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Kaiser Aluminum currently has an average rating of Hold and a consensus target price of $107.75.

Shares of Kaiser Aluminum stock opened at $95.95 on Thursday. The firm has a market cap of $1.57 billion, a PE ratio of 18.85 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.48 and a current ratio of 3.50. Kaiser Aluminum has a 12 month low of $83.29 and a 12 month high of $119.66.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, October 17th. The industrial products company reported $1.43 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.12). The firm had revenue of $393.10 million for the quarter, compared to analysts’ expectations of $383.84 million. Kaiser Aluminum had a net margin of 3.41% and a return on equity of 13.23%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. Sell-side analysts predict that Kaiser Aluminum will post 6.31 earnings per share for the current year.

In related news, CEO Jack A. Hockema sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $100.41, for a total transaction of $150,615.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Melinda C. Ellsworth sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $95.36, for a total value of $104,896.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,600 shares of company stock worth $1,102,276. 3.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Kaiser Aluminum by 4.6% during the third quarter. BlackRock Inc. now owns 2,332,530 shares of the industrial products company’s stock valued at $254,385,000 after purchasing an additional 101,969 shares in the last quarter. Vanguard Group Inc boosted its position in Kaiser Aluminum by 1.0% during the third quarter. Vanguard Group Inc now owns 1,777,971 shares of the industrial products company’s stock valued at $193,905,000 after purchasing an additional 17,914 shares in the last quarter. Vanguard Group Inc. boosted its position in Kaiser Aluminum by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,777,971 shares of the industrial products company’s stock valued at $193,905,000 after purchasing an additional 17,914 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Kaiser Aluminum by 21,148.5% during the second quarter. Advisors Asset Management Inc. now owns 898,387 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 894,159 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in Kaiser Aluminum by 14.0% during the third quarter. Macquarie Group Ltd. now owns 614,838 shares of the industrial products company’s stock valued at $67,054,000 after purchasing an additional 75,342 shares in the last quarter. 99.28% of the stock is currently owned by institutional investors.

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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