Kaiser Aluminum (NASDAQ:KALU) had its price objective lifted by analysts at Morgan Stanley from $87.00 to $101.00 in a report issued on Thursday, November 16th. The firm currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 2.58% from the stock’s current price.
KALU has been the subject of several other reports. Deutsche Bank cut shares of Kaiser Aluminum from a “buy” rating to a “hold” rating and set a $104.00 target price for the company. in a research note on Tuesday, October 17th. Bank of America boosted their price objective on shares of Kaiser Aluminum from $79.00 to $85.00 and gave the company an “underperform” rating in a research note on Friday, July 21st. Zacks Investment Research cut shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. BidaskClub cut shares of Kaiser Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, Cowen set a $97.00 price objective on shares of Kaiser Aluminum and gave the company a “hold” rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $99.00.
Shares of Kaiser Aluminum (NASDAQ:KALU) traded up $1.05 on Thursday, hitting $98.46. 110,245 shares of the stock were exchanged, compared to its average volume of 146,461. The stock has a market cap of $1,646.60, a PE ratio of 18.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.55 and a current ratio of 3.75. Kaiser Aluminum has a fifty-two week low of $74.56 and a fifty-two week high of $108.99.
Kaiser Aluminum (NASDAQ:KALU) last released its earnings results on Wednesday, October 18th. The industrial products company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.19). The firm had revenue of $332.80 million during the quarter, compared to analysts’ expectations of $335.37 million. Kaiser Aluminum had a return on equity of 11.45% and a net margin of 6.18%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share. equities analysts expect that Kaiser Aluminum will post 5.04 earnings per share for the current year.
In other Kaiser Aluminum news, CEO Jack A. Hockema sold 9,000 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $102.67, for a total value of $924,030.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Melinda C. Ellsworth sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $99.48, for a total transaction of $99,480.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,982 shares of company stock worth $1,736,622 in the last 90 days. Company insiders own 3.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of KALU. FMR LLC raised its stake in shares of Kaiser Aluminum by 50.9% in the 1st quarter. FMR LLC now owns 86,820 shares of the industrial products company’s stock valued at $6,937,000 after purchasing an additional 29,300 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Kaiser Aluminum by 3.2% in the 1st quarter. Teachers Advisors LLC now owns 30,195 shares of the industrial products company’s stock valued at $2,413,000 after purchasing an additional 933 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Kaiser Aluminum by 1.3% in the 1st quarter. California Public Employees Retirement System now owns 39,300 shares of the industrial products company’s stock valued at $3,140,000 after purchasing an additional 500 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Kaiser Aluminum by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 145,191 shares of the industrial products company’s stock valued at $11,600,000 after purchasing an additional 2,593 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Kaiser Aluminum by 12,449.4% in the 1st quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock valued at $173,757,000 after purchasing an additional 2,157,364 shares in the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.
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About Kaiser Aluminum
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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