Century Aluminum (CENX) Upgraded by Zacks Investment Research to “Strong-Buy”

Century Aluminum (NASDAQ:CENX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Monday. The firm presently has a $20.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 5.82% from the company’s previous close.

According to Zacks, “Century Aluminum has outperformed the industry it belongs to over a year.  The company should gain from its initiatives to reduce operating costs. Its cost control actions are expected to support its bottom line in the first quarter of 2018. Century Aluminum is also expected to benefit from strong aluminum demand across automotive and aerospace markets as well as from acquisitions. Demand for primary aluminum remains strong across China, Europe and North America. The company also has low financial leverage with no near-term debt maturities.”

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Other research analysts also recently issued research reports about the company. TheStreet raised Century Aluminum from a “c” rating to a “b-” rating in a research note on Friday, February 23rd. BidaskClub raised Century Aluminum from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Deutsche Bank downgraded shares of Century Aluminum from a “buy” rating to a “hold” rating and decreased their target price for the company from $20.00 to $14.00 in a research report on Wednesday, December 20th. BMO Capital Markets reissued a “market perform” rating and set a $20.00 target price (up previously from $18.00) on shares of Century Aluminum in a research report on Friday, February 23rd. Finally, Cowen raised shares of Century Aluminum from a “market perform” rating to an “outperform” rating and increased their target price for the company from $23.00 to $30.00 in a research report on Tuesday, March 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $20.30.

Shares of Century Aluminum stock traded up $2.11 on Monday, hitting $18.90. The stock had a trading volume of 1,302,257 shares, compared to its average volume of 2,504,486. Century Aluminum has a twelve month low of $11.59 and a twelve month high of $24.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.24. The company has a market capitalization of $1,470.18, a P/E ratio of 52.50 and a beta of 0.87.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Century Aluminum had a return on equity of 4.52% and a net margin of 3.02%. The company had revenue of $433.80 million during the quarter, compared to the consensus estimate of $427.73 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The firm’s revenue was up 27.7% compared to the same quarter last year. equities analysts anticipate that Century Aluminum will post 1.49 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Century Aluminum during the 4th quarter valued at approximately $272,000. Macquarie Group Ltd. acquired a new stake in Century Aluminum during the 3rd quarter valued at approximately $275,000. Teacher Retirement System of Texas acquired a new stake in Century Aluminum during the 4th quarter valued at approximately $350,000. Municipal Employees Retirement System of Michigan increased its position in Century Aluminum by 59.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 18,660 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 6,930 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in Century Aluminum during the 4th quarter valued at approximately $410,000. 65.18% of the stock is owned by institutional investors and hedge funds.

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About Century Aluminum

Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum in the United States and Iceland. The company was founded in 1995 and is headquartered in Chicago, Illinois.

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Analyst Recommendations for Century Aluminum (NASDAQ:CENX)

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