Kaiser Aluminum (KALU) Downgraded to “Hold” at BidaskClub

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BidaskClub downgraded shares of Kaiser Aluminum (NASDAQ:KALU) from a buy rating to a hold rating in a report published on Tuesday.

Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Kaiser Aluminum from a hold rating to a buy rating and set a $125.00 price target on the stock in a research note on Saturday, July 28th. Morgan Stanley upped their price target on Kaiser Aluminum from $101.00 to $105.00 and gave the stock an equal weight rating in a research note on Wednesday, August 1st. Jefferies Financial Group initiated coverage on Kaiser Aluminum in a research note on Monday, July 16th. They issued a hold rating and a $122.00 price objective on the stock. ValuEngine cut Kaiser Aluminum from a buy rating to a hold rating in a research note on Thursday, June 28th. Finally, Credit Suisse Group increased their price objective on Kaiser Aluminum from $102.00 to $108.00 and gave the company a neutral rating in a research note on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The company has a consensus rating of Hold and a consensus price target of $107.63.

NASDAQ:KALU traded down $0.56 during trading hours on Tuesday, reaching $101.34. 120,675 shares of the stock were exchanged, compared to its average volume of 116,225. The company has a quick ratio of 2.72, a current ratio of 3.63 and a debt-to-equity ratio of 0.49. Kaiser Aluminum has a twelve month low of $90.93 and a twelve month high of $119.66. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.11 and a beta of 0.70.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Monday, July 23rd. The industrial products company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.10. Kaiser Aluminum had a return on equity of 12.03% and a net margin of 3.43%. The company had revenue of $415.00 million for the quarter, compared to analysts’ expectations of $398.95 million. During the same period in the prior year, the firm earned $1.47 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts expect that Kaiser Aluminum will post 6.52 EPS for the current fiscal year.

In related news, VP Melinda C. Ellsworth sold 1,100 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $112.23, for a total value of $123,453.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jack A. Hockema sold 6,000 shares of the stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $111.91, for a total value of $671,460.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,413 shares of company stock worth $939,776. Insiders own 3.20% of the company’s stock.

A number of large investors have recently bought and sold shares of KALU. Wells Fargo & Company MN increased its holdings in Kaiser Aluminum by 27.5% in the first quarter. Wells Fargo & Company MN now owns 101,967 shares of the industrial products company’s stock valued at $10,289,000 after buying an additional 21,967 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Kaiser Aluminum by 0.9% during the first quarter. Northern Trust Corp now owns 476,934 shares of the industrial products company’s stock worth $48,123,000 after purchasing an additional 4,443 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Kaiser Aluminum by 1.4% during the first quarter. BlackRock Inc. now owns 2,183,720 shares of the industrial products company’s stock worth $220,337,000 after purchasing an additional 30,723 shares during the last quarter. Federated Investors Inc. PA purchased a new position in shares of Kaiser Aluminum during the first quarter worth about $1,173,000. Finally, New York State Common Retirement Fund grew its holdings in shares of Kaiser Aluminum by 3.1% during the first quarter. New York State Common Retirement Fund now owns 33,605 shares of the industrial products company’s stock worth $3,391,000 after purchasing an additional 1,000 shares during the last quarter. 99.81% of the stock is currently owned by hedge funds and other institutional investors.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

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Analyst Recommendations for Kaiser Aluminum (NASDAQ:KALU)

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