Kaiser Aluminum Corporation (KALU) Receives $96.13 Consensus Price Target from Brokerages

Shares of Kaiser Aluminum Corporation (NASDAQ:KALU) have been given an average recommendation of “Buy” by the nine analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $95.57.

Several analysts have recently weighed in on the company. BidaskClub upgraded Kaiser Aluminum Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Morgan Stanley restated an “equal weight” rating and set a $87.00 price target (up from $80.00) on shares of Kaiser Aluminum Corporation in a report on Tuesday, July 25th. Cowen and Company cut Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. Zacks Investment Research upgraded Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Friday, July 28th. Finally, Bank of America Corporation boosted their price target on Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the stock an “underperform” rating in a report on Friday, July 21st.

In related news, VP Del L. Miller sold 1,282 shares of Kaiser Aluminum Corporation stock in a transaction that occurred on 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 can be accessed through this link. Also, Director Carolyn Bartholomew sold 1,000 shares of Kaiser Aluminum Corporation stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $99.00, for a total value of $99,000.00. Following the completion of the transaction, the director now directly owns 13,344 shares in the company, valued at $1,321,056. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,714 shares of company stock worth $2,036,826. 3.00% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. First Mercantile Trust Co. lifted its stake in shares of Kaiser Aluminum Corporation by 1.4% in the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 20 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of Kaiser Aluminum Corporation by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 5,820 shares of the industrial products company’s stock worth $465,000 after acquiring an additional 50 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Kaiser Aluminum Corporation by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,140 shares of the industrial products company’s stock worth $544,000 after acquiring an additional 62 shares during the period. CNA Financial Corp lifted its stake in shares of Kaiser Aluminum Corporation by 1.4% in the first quarter. CNA Financial Corp now owns 7,200 shares of the industrial products company’s stock worth $575,000 after acquiring an additional 100 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Kaiser Aluminum Corporation by 0.3% in the second quarter. California Public Employees Retirement System now owns 39,400 shares of the industrial products company’s stock worth $3,488,000 after acquiring an additional 100 shares during the period. 98.04% of the stock is currently owned by institutional investors.

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Kaiser Aluminum Corporation (NASDAQ:KALU) traded down 0.211% on Friday, reaching $97.075. 45,805 shares of the company’s stock were exchanged. Kaiser Aluminum Corporation has a 52 week low of $69.41 and a 52 week high of $99.70. The stock’s 50 day moving average is $96.39 and its 200 day moving average is $86.39. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 21.321 and a beta of 0.54.

Kaiser Aluminum Corporation (NASDAQ:KALU) last released its earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.46. The firm had revenue of $356.00 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $1.02 earnings per share. On average, equities analysts anticipate that Kaiser Aluminum Corporation will post $5.47 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, July 25th. Kaiser Aluminum Corporation’s dividend payout ratio (DPR) is currently 44.44%.

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.

Analyst Recommendations for Kaiser Aluminum Corporation (NASDAQ:KALU)

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