Kaiser Aluminum (NASDAQ:KALU) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Kaiser Aluminum (NASDAQ:KALU) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “Kaiser Aluminum is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company’s North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube, and wire products, adhering to traditions of quality, innovation, and service. Kaiser Aluminum is headquartered in Foothill Ranch, California. “

Several other analysts also recently commented on KALU. ValuEngine downgraded Kaiser Aluminum from a hold rating to a sell rating in a research note on Tuesday, July 9th. BidaskClub raised Kaiser Aluminum from a sell rating to a hold rating in a research note on Tuesday, September 10th. Finally, Goldman Sachs Group raised Kaiser Aluminum from a sell rating to a neutral rating and set a $97.00 price objective for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $110.00.

Kaiser Aluminum stock opened at $99.61 on Friday. Kaiser Aluminum has a fifty-two week low of $83.29 and a fifty-two week high of $114.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.34 and a current ratio of 3.63. The company has a market capitalization of $1.59 billion, a P/E ratio of 15.40 and a beta of 1.07. The stock has a 50-day simple moving average of $92.43 and a 200-day simple moving average of $97.20.

Kaiser Aluminum (NASDAQ:KALU) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.07. Kaiser Aluminum had a return on equity of 14.23% and a net margin of 5.96%. The business had revenue of $375.00 million during the quarter, compared to the consensus estimate of $388.25 million. During the same period in the previous year, the business earned $1.68 EPS. The business’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, analysts forecast that Kaiser Aluminum will post 7.2 earnings per share for the current year.

In other Kaiser Aluminum news, COO Keith Harvey sold 500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $90.00, for a total transaction of $45,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack A. Hockema sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $95.96, for a total value of $1,199,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,350 shares of company stock valued at $1,863,190. 1.70% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Kaiser Aluminum by 0.8% during the 2nd quarter. BlackRock Inc. now owns 2,486,357 shares of the industrial products company’s stock valued at $242,693,000 after acquiring an additional 19,066 shares during the last quarter. Vanguard Group Inc. increased its position in Kaiser Aluminum by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,853,919 shares of the industrial products company’s stock worth $180,961,000 after purchasing an additional 32,325 shares during the period. Northern Trust Corp increased its position in Kaiser Aluminum by 0.9% during the 2nd quarter. Northern Trust Corp now owns 472,455 shares of the industrial products company’s stock worth $46,116,000 after purchasing an additional 4,088 shares during the period. Invesco Ltd. increased its position in Kaiser Aluminum by 332.2% during the 2nd quarter. Invesco Ltd. now owns 381,577 shares of the industrial products company’s stock worth $37,246,000 after purchasing an additional 293,293 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its position in Kaiser Aluminum by 11.0% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 352,303 shares of the industrial products company’s stock worth $44,047,000 after purchasing an additional 34,969 shares during the period. 97.00% of the stock is owned by hedge funds and other institutional investors.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

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