Century Aluminum (NASDAQ:CENX) Stock Gets Price Target Cut from Barclays

Century Aluminum (NASDAQ:CENX) had its price objective dropped by equities researchers at Barclays from $40.00 to $39.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price would suggest a potential upside of 9.13% from the company’s current price.

A number of other equities research analysts also recently commented on CENX. Wells Fargo & Company lowered their price objective on Century Aluminum from $79.00 to $71.00 and set an “overweight” rating for the company in a research report on Friday. UBS Group dropped their target price on Century Aluminum from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. B. Riley Financial reduced their target price on Century Aluminum from $72.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. Zacks Research raised Century Aluminum from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Century Aluminum in a research note on Monday, October 19th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.80.

Century Aluminum Trading Up 6.8%

CENX stock traded up $2.27 during midday trading on Monday, hitting $35.74. The stock had a trading volume of 496,887 shares, compared to its average volume of 2,115,891. The firm has a market cap of $3.54 billion, a PE ratio of 4.17 and a beta of 2.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.45 and a quick ratio of 2.23. Century Aluminum has a 12-month low of $25.40 and a 12-month high of $70.43. The company’s 50-day moving average price is $37.87 and its 200 day moving average price is $49.41.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Thursday, November 5th. The industrial products company reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). Century Aluminum had a net margin of 29.74% and a return on equity of 47.45%. The business had revenue of $961.20 million during the quarter, compared to analyst estimates of $951.71 million. During the same quarter last year, the firm posted $0.56 earnings per share. The company’s revenue was up 52.0% on a year-over-year basis. On average, equities research analysts predict that Century Aluminum will post 7.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CENX. Lido Advisors LLC raised its stake in shares of Century Aluminum by 1.4% in the 1st quarter. Lido Advisors LLC now owns 13,091 shares of the industrial products company’s stock valued at $768,000 after purchasing an additional 180 shares in the last quarter. Summit Global Investments lifted its position in shares of Century Aluminum by 3.2% during the first quarter. Summit Global Investments now owns 7,866 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 241 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Century Aluminum by 26.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,419 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 297 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Century Aluminum by 9.1% during the second quarter. GAMMA Investing LLC now owns 4,771 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 398 shares during the last quarter. Finally, CoreCap Advisors LLC grew its stake in Century Aluminum by 33.7% in the second quarter. CoreCap Advisors LLC now owns 1,855 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 61.59% of the company’s stock.

About Century Aluminum

Century Aluminum Company is a global producer of primary aluminum, an essential material used in transportation, construction, packaging, and other industries. Its products include standard-grade and high-purity aluminum, supplied in forms such as ingots and billets for further processing by customers.

The company operates aluminum smelting facilities in the United States and Iceland. Its activities also include producing carbon anodes, which are used in the aluminum-smelting process. Century Aluminum was established in 1995 and is headquartered in Chicago, Illinois.

Century Aluminum serves customers in North America and international markets.