Kaiser Aluminum (NASDAQ:KALU) Raised to Strong-Buy at Zacks Research

Kaiser Aluminum (NASDAQ:KALU) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. UBS Group started coverage on shares of Kaiser Aluminum in a research report on Tuesday, May 5th. They set a “neutral” rating and a $176.00 target price on the stock. KeyCorp raised their target price on shares of Kaiser Aluminum from $170.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Wall Street Zen raised shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $142.00 target price (up from $124.00) on shares of Kaiser Aluminum in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Kaiser Aluminum from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Kaiser Aluminum presently has an average rating of “Moderate Buy” and an average target price of $159.50.

Kaiser Aluminum Stock Performance

Shares of NASDAQ:KALU opened at $179.42 on Tuesday. The firm has a market cap of $2.93 billion, a PE ratio of 19.54 and a beta of 1.60. The firm’s 50 day simple moving average is $141.07 and its 200-day simple moving average is $123.96. Kaiser Aluminum has a one year low of $68.22 and a one year high of $183.00. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.14 and a current ratio of 2.47.

Kaiser Aluminum (NASDAQ:KALU) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $3.74 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $1.78. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $948.50 million. Kaiser Aluminum had a net margin of 4.14% and a return on equity of 17.00%. The company’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period last year, the company posted $1.44 earnings per share. As a group, equities analysts predict that Kaiser Aluminum will post 8.69 EPS for the current year.

Insider Activity at Kaiser Aluminum

In related news, Director Richard P. Grimley sold 1,524 shares of Kaiser Aluminum stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $171.52, for a total transaction of $261,396.48. Following the transaction, the director directly owned 4,578 shares of the company’s stock, valued at $785,218.56. This trade represents a 24.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Iulian Gheorghe sold 175 shares of Kaiser Aluminum stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $174.22, for a total transaction of $30,488.50. Following the transaction, the senior vice president directly owned 4,448 shares in the company, valued at approximately $774,930.56. The trade was a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 76,731 shares of company stock valued at $13,137,697 over the last quarter. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Kaiser Aluminum

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in Kaiser Aluminum in the fourth quarter worth $5,018,000. Citigroup Inc. grew its holdings in Kaiser Aluminum by 127.3% in the third quarter. Citigroup Inc. now owns 34,456 shares of the industrial products company’s stock worth $2,659,000 after purchasing an additional 19,294 shares during the last quarter. First National Bank of Omaha purchased a new position in Kaiser Aluminum in the third quarter worth $603,000. AlphaQuest LLC grew its holdings in Kaiser Aluminum by 1,096.2% in the third quarter. AlphaQuest LLC now owns 22,453 shares of the industrial products company’s stock worth $1,732,000 after purchasing an additional 20,576 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. purchased a new position in Kaiser Aluminum in the third quarter worth $908,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

About Kaiser Aluminum

Kaiser Aluminum Corporation is a U.S.-based producer of semi?fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company’s offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high?value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.