Century Aluminum (NASDAQ:CENX) Stock Rating Lowered by Zacks Research

Century Aluminum (NASDAQ:CENX) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also commented on CENX. Wells Fargo & Company lifted their price objective on Century Aluminum from $61.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Wall Street Zen upgraded Century Aluminum from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, B. Riley Financial lifted their price objective on Century Aluminum from $68.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Century Aluminum currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Century Aluminum Stock Performance

Century Aluminum stock opened at $66.03 on Monday. The stock has a 50-day simple moving average of $52.84 and a 200 day simple moving average of $40.65. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 165.08 and a beta of 1.99. Century Aluminum has a 12-month low of $13.05 and a 12-month high of $67.63.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 EPS for the quarter, hitting analysts’ consensus estimates of $1.25. The firm had revenue of $633.70 million during the quarter, compared to analyst estimates of $661.63 million. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The company’s revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. On average, research analysts anticipate that Century Aluminum will post 2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John Dezee sold 66,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $50.72, for a total value of $3,347,520.00. Following the completion of the transaction, the executive vice president directly owned 97,647 shares in the company, valued at approximately $4,952,655.84. The trade was a 40.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matt Aboud sold 12,126 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $52.50, for a total value of $636,615.00. Following the completion of the transaction, the senior vice president owned 67,814 shares of the company’s stock, valued at $3,560,235. This represents a 15.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 401,626 shares of company stock valued at $20,847,911 over the last 90 days. 0.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Century Aluminum

Several institutional investors and hedge funds have recently modified their holdings of CENX. Jones Financial Companies Lllp acquired a new position in shares of Century Aluminum in the 1st quarter valued at approximately $25,000. Private Trust Co. NA acquired a new position in shares of Century Aluminum in the 4th quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its position in shares of Century Aluminum by 253.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 1,306 shares during the period. Advisory Services Network LLC acquired a new position in Century Aluminum during the 3rd quarter worth approximately $34,000. Finally, Transamerica Financial Advisors LLC acquired a new position in Century Aluminum during the 4th quarter worth approximately $40,000. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Century Aluminum Company Profile

Century Aluminum Company is a primary aluminum producer that develops and operates smelters designed to supply low-carbon, high-purity aluminum products to a range of industrial and commercial markets. Established in 1995, the company has grown to become a significant North American aluminum producer with an expanding international footprint. Century Aluminum is headquartered in the United States and is focused on energy-efficient operations and cost management.

The company’s core operations include three primary aluminum smelting facilities located in Hawesville, Kentucky; Mount Holly, South Carolina; and Grundartangi, Iceland.