Kaiser Aluminum (NASDAQ:KALU) Given New $125.00 Price Target at Wells Fargo & Company

Kaiser Aluminum (NASDAQ:KALU) had its target price lowered by equities researchers at Wells Fargo & Company from $160.00 to $125.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 13.83% from the company’s previous close.

Several other brokerages also recently issued reports on KALU. KeyCorp lowered their price target on shares of Kaiser Aluminum from $183.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, October 8th. Zacks Research downgraded Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. UBS Group raised Kaiser Aluminum from a “neutral” rating to a “buy” rating and raised their price objective for the company from $179.00 to $184.00 in a report on Monday, August 31st. Wall Street Zen upgraded Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. Finally, Weiss Ratings cut Kaiser Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $162.40.

Kaiser Aluminum Price Performance

Shares of Kaiser Aluminum stock traded down $5.18 during midday trading on Friday, hitting $109.81. 99,856 shares of the company traded hands, compared to its average volume of 246,978. The firm’s fifty day moving average price is $154.82 and its 200-day moving average price is $165.23. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 8.15 and a beta of 1.59. Kaiser Aluminum has a 12 month low of $87.89 and a 12 month high of $199.89. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.17 and a current ratio of 2.50.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $1.89 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.48). Kaiser Aluminum had a net margin of 4.85% and a return on equity of 24.27%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the company earned $1.86 EPS. Kaiser Aluminum’s revenue for the quarter was up 43.9% on a year-over-year basis. As a group, sell-side analysts forecast that Kaiser Aluminum will post 13.40 earnings per share for the current year.

Institutional Investors Weigh In On Kaiser Aluminum

A number of institutional investors have recently added to or reduced their stakes in KALU. Bank of New York Mellon Corp acquired a new position in Kaiser Aluminum in the 2nd quarter valued at approximately $38,353,000. Assenagon Asset Management S.A. bought a new position in shares of Kaiser Aluminum during the second quarter valued at $10,659,000. Great Lakes Advisors LLC bought a new position in shares of Kaiser Aluminum during the second quarter valued at $8,045,000. Renaissance Technologies LLC raised its stake in shares of Kaiser Aluminum by 363.2% during the first quarter. Renaissance Technologies LLC now owns 33,814 shares of the industrial products company’s stock valued at $4,075,000 after acquiring an additional 26,514 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Kaiser Aluminum by 32.4% during the first quarter. Principal Financial Group Inc. now owns 101,510 shares of the industrial products company’s stock worth $12,233,000 after purchasing an additional 24,853 shares during the period. 99.29% of the stock is owned by institutional investors.

About Kaiser Aluminum

Kaiser Aluminum Corporation is a producer of semi-fabricated aluminum products used by manufacturers in the aerospace and defense, automotive, industrial, and consumer products markets. The company supplies aluminum materials designed for applications that require strength, light weight, corrosion resistance, and other specialized performance characteristics.

Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other fabricated aluminum products.