Kaiser Aluminum Corporation (NASDAQ:KALU) has been given an average recommendation of “Buy” by the nine analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $97.00.
Several brokerages have recently commented on KALU. Zacks Investment Research upgraded Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Friday. BidaskClub upgraded Kaiser Aluminum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. Cowen and Company lowered Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $96.00 to $97.00 in a research note on Monday, August 7th. They noted that the move was a valuation call. Deutsche Bank AG set a $100.00 target price on Kaiser Aluminum Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $87.00 target price (up previously from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th.
In other Kaiser Aluminum Corporation news, VP Del L. Miller sold 1,282 shares of Kaiser Aluminum Corporation stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $96.81, for a total value of $124,110.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jack A. Hockema sold 9,000 shares of Kaiser Aluminum Corporation stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.67, for a total value of $924,030.00. The disclosure for this sale can be found here. Insiders sold 26,696 shares of company stock worth $2,662,349 in the last quarter. 3.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Kaiser Aluminum Corporation by 12,449.4% in the first quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock worth $173,757,000 after acquiring an additional 2,157,364 shares in the last quarter. FMR LLC boosted its holdings in Kaiser Aluminum Corporation by 136.8% in the second quarter. FMR LLC now owns 205,561 shares of the industrial products company’s stock worth $18,196,000 after acquiring an additional 118,741 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Kaiser Aluminum Corporation by 30.9% in the second quarter. Macquarie Group Ltd. now owns 418,863 shares of the industrial products company’s stock worth $37,078,000 after acquiring an additional 98,855 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Kaiser Aluminum Corporation by 414.6% in the second quarter. JPMorgan Chase & Co. now owns 94,571 shares of the industrial products company’s stock worth $8,371,000 after acquiring an additional 76,192 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in Kaiser Aluminum Corporation by 1,303.4% in the second quarter. Citadel Advisors LLC now owns 78,283 shares of the industrial products company’s stock worth $6,930,000 after acquiring an additional 72,705 shares in the last quarter. Institutional investors own 98.04% of the company’s stock.
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Shares of Kaiser Aluminum Corporation (NASDAQ KALU) traded down 1.61% during mid-day trading on Wednesday, hitting $104.46. 29,034 shares of the stock were exchanged. Kaiser Aluminum Corporation has a 12 month low of $69.41 and a 12 month high of $106.43. The firm has a market cap of $1.76 billion, a P/E ratio of 22.94 and a beta of 0.54. The stock’s 50 day moving average is $99.44 and its 200 day moving average is $89.55.
Kaiser Aluminum Corporation (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.01 by $0.46. The firm had revenue of $356.00 million for the quarter, compared to analyst estimates of $349.62 million. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. Analysts expect that Kaiser Aluminum Corporation will post $5.38 EPS for the current fiscal year.
About Kaiser Aluminum Corporation
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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