Century Aluminum (NASDAQ:CENX) Given New $86.00 Price Target at B. Riley Financial

Century Aluminum (NASDAQ:CENX) had its price objective lifted by equities researchers at B. Riley Financial from $68.00 to $86.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. B. Riley Financial’s target price suggests a potential upside of 29.23% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Wells Fargo & Company increased their price target on shares of Century Aluminum from $61.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, Wall Street Zen raised shares of Century Aluminum from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $63.00.

Century Aluminum Stock Performance

CENX traded up $2.01 during mid-day trading on Tuesday, reaching $66.55. 1,072,085 shares of the company traded hands, compared to its average volume of 2,469,515. The company’s fifty day moving average price is $52.47 and its 200-day moving average price is $40.38. The stock has a market capitalization of $6.59 billion, a P/E ratio of 166.16 and a beta of 1.99. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.52. Century Aluminum has a 52-week low of $13.05 and a 52-week high of $67.63.

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

Insider Activity

In other Century Aluminum news, EVP John Dezee sold 66,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the sale, the executive vice president directly owned 97,647 shares of the company’s stock, valued at $4,952,655.84. This trade represents a 40.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jesse E. Gary sold 150,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $55.47, for a total value of $8,320,500.00. Following the completion of the transaction, the chief executive officer directly owned 142,580 shares of the company’s stock, valued at approximately $7,908,912.60. This trade represents a 51.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 401,626 shares of company stock worth $20,847,911 in the last quarter. 0.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Century Aluminum

A number of institutional investors have recently added to or reduced their stakes in CENX. Jones Financial Companies Lllp purchased a new position in shares of Century Aluminum in the first quarter worth $25,000. Private Trust Co. NA purchased a new stake in Century Aluminum in the 4th quarter worth $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Century Aluminum by 253.1% during 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 last quarter. Advisory Services Network LLC purchased a new position in shares of Century Aluminum during the third quarter valued at about $34,000. Finally, Transamerica Financial Advisors LLC purchased a new position in shares of Century Aluminum during the fourth quarter valued at about $40,000. 61.59% of the stock is owned by hedge funds and other institutional investors.

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.