Century Aluminum Company (CENX) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Century Aluminum Company (NASDAQ:CENX) from a hold rating to a buy rating in a report issued on Monday. They currently have $19.00 price objective on the industrial products company’s stock.

According to Zacks, “Century Aluminum has outperformed the industry it belongs to over a year. Century Aluminum is implementing a number of actions to reduce costs and preserve cash amid a weak operating environment. It should also gain from strong aluminum demand across automotive and aerospace markets in its key regions, North America and China, as well as acquisitions. Moreover, the company has low debt and short-term obligations which will help it remain strong in an adverse environment.”

A number of other research analysts also recently weighed in on the stock. Deutsche Bank AG raised shares of Century Aluminum from a sell rating to a hold rating and raised their target price for the company from $10.00 to $15.00 in a research report on Friday, June 23rd. BidaskClub raised shares of Century Aluminum from a hold rating to a buy rating in a research report on Thursday, August 24th. BMO Capital Markets reissued a hold rating and issued a $14.00 price objective on shares of Century Aluminum in a research report on Sunday, July 2nd. Macquarie started coverage on shares of Century Aluminum in a research report on Thursday, September 7th. They issued a neutral rating for the company. Finally, J P Morgan Chase & Co raised shares of Century Aluminum from a neutral rating to an overweight rating and lifted their price objective for the company from $15.00 to $22.00 in a research report on Monday, August 21st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $17.20.

Century Aluminum (NASDAQ:CENX) opened at 16.09 on Monday. The stock’s market capitalization is $1.40 billion. Century Aluminum has a 12-month low of $6.51 and a 12-month high of $20.68. The stock’s 50 day moving average is $18.37 and its 200 day moving average is $15.56.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.28). The business had revenue of $388.80 million during the quarter, compared to the consensus estimate of $398.33 million. Century Aluminum had a negative net margin of 16.48% and a negative return on equity of 5.61%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. Analysts forecast that Century Aluminum will post $0.63 EPS for the current year.

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Several large investors have recently modified their holdings of the company. Lord Abbett & CO. LLC raised its position in shares of Century Aluminum by 15.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,808,095 shares of the industrial products company’s stock valued at $28,170,000 after buying an additional 245,892 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Century Aluminum in the 2nd quarter valued at approximately $267,000. Public Employees Retirement System of Ohio raised its position in shares of Century Aluminum by 224.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 59,805 shares of the industrial products company’s stock valued at $932,000 after buying an additional 41,394 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Century Aluminum in the 2nd quarter valued at approximately $168,000. Finally, 361 Capital LLC raised its position in shares of Century Aluminum by 91.7% in the 2nd quarter. 361 Capital LLC now owns 24,432 shares of the industrial products company’s stock valued at $381,000 after buying an additional 11,690 shares in the last quarter. Institutional investors own 67.17% of the company’s stock.

Century Aluminum Company Profile

Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company’s primary aluminum facilities produce standard grade primary aluminum products.

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Analyst Recommendations for Century Aluminum (NASDAQ:CENX)

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