Century Aluminum (NASDAQ:CENX) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Century Aluminum (NASDAQ:CENX) from a strong-buy rating to a buy rating in a research report released on Sunday morning,Wall Street Zen reports.

A number of other research firms have also commented on CENX. Weiss Ratings lowered shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. UBS Group assumed coverage on shares of Century Aluminum in a report on Monday, August 10th. They set a “buy” rating and a $60.00 price objective for the company. Wells Fargo & Company dropped their price target on Century Aluminum from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, September 18th. B. Riley Financial reiterated a “buy” rating on shares of Century Aluminum in a research report on Tuesday, August 18th. Finally, Zacks Research lowered Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Century Aluminum currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Century Aluminum Price Performance

Shares of Century Aluminum stock opened at $39.40 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.61 and a current ratio of 2.75. The firm’s 50-day simple moving average is $44.97 and its 200-day simple moving average is $52.79. Century Aluminum has a twelve month low of $25.40 and a twelve month high of $70.43. The firm has a market cap of $3.90 billion, a P/E ratio of 6.80 and a beta of 1.99.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The firm had revenue of $752.10 million during the quarter, compared to analysts’ expectations of $817.15 million. The company’s quarterly revenue was up 59.0% on a year-over-year basis. As a group, research analysts expect that Century Aluminum will post 7.75 EPS for the current fiscal year.

Institutional Trading of Century Aluminum

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC increased its holdings in Century Aluminum by 10.6% during the 2nd quarter. Tidal Investments LLC now owns 10,868 shares of the industrial products company’s stock worth $500,000 after purchasing an additional 1,040 shares in the last quarter. Steamboat Capital Partners LLC boosted its holdings in shares of Century Aluminum by 7.4% during the 2nd quarter. Steamboat Capital Partners LLC now owns 296,666 shares of the industrial products company’s stock worth $13,650,000 after buying an additional 20,418 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Century Aluminum by 65.6% during the 2nd quarter. Squarepoint Ops LLC now owns 679,205 shares of the industrial products company’s stock worth $31,250,000 after buying an additional 269,112 shares during the period. Arizona State Retirement System increased its stake in shares of Century Aluminum by 19.8% in the 2nd quarter. Arizona State Retirement System now owns 18,434 shares of the industrial products company’s stock valued at $848,000 after acquiring an additional 3,052 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Century Aluminum during the 2nd quarter valued at $84,000. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Company Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, and other industrial applications.

Century Aluminum’s operations are primarily located in the United States and Iceland. Its U.S. portfolio includes facilities in Sebree, Kentucky, and Mount Holly, South Carolina, while its Icelandic operations include the Grundartangi smelter, operated through its Norðurál subsidiary.