Century Aluminum (NASDAQ:CENX) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Century Aluminum (NASDAQ:CENX) from a strong-buy rating to a strong sell rating in a research note released on Wednesday,Zacks.com reports.

CENX has been the subject of a number of other research reports. B. Riley lifted their price target on Century Aluminum from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Wells Fargo & Company decreased their target price on Century Aluminum from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, October 8th. BMO Capital Markets restated an “outperform” rating on shares of Century Aluminum in a research note on Friday, August 8th. Finally, Wall Street Zen lowered shares of Century Aluminum from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Century Aluminum has a consensus rating of “Moderate Buy” and a consensus target price of $27.75.

Century Aluminum Stock Performance

CENX opened at $28.98 on Wednesday. The company has a market cap of $2.70 billion, a P/E ratio of 24.98 and a beta of 2.51. The company has a quick ratio of 0.61, a current ratio of 1.75 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $27.92 and its 200-day moving average price is $22.16. Century Aluminum has a 52-week low of $13.05 and a 52-week high of $34.51.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Thursday, November 6th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.32). The company had revenue of $632.20 million for the quarter, compared to analysts’ expectations of $629.85 million. Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%.The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. As a group, equities analysts anticipate that Century Aluminum will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling at Century Aluminum

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total value of $279,868.29. Following the completion of the transaction, the senior vice president owned 62,589 shares in the company, valued at approximately $1,456,446.03. This represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Agust F. Hafberg sold 9,493 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $27.91, for a total transaction of $264,949.63. Following the sale, the senior vice president directly owned 55,260 shares in the company, valued at approximately $1,542,306.60. The trade was a 14.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Century Aluminum

A number of large investors have recently bought and sold shares of CENX. Farther Finance Advisors LLC lifted its position in shares of Century Aluminum by 1,291.8% in the second quarter. Farther Finance Advisors LLC now owns 1,364 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 1,266 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Century Aluminum during the first quarter worth $25,000. EverSource Wealth Advisors LLC raised its position in shares of Century Aluminum by 253.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,306 shares during the last quarter. CWM LLC lifted its stake in shares of Century Aluminum by 26.3% in the third quarter. CWM LLC now owns 1,592 shares of the industrial products company’s stock worth $47,000 after buying an additional 332 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Century Aluminum by 261.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,020 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 2,909 shares during the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.