Cowen and Company Reiterates “$97.00” Price Target for Kaiser Aluminum Corporation (KALU)
Kaiser Aluminum Corporation (NASDAQ:KALU) received a $97.00 price objective from stock analysts at Cowen and Company in a research note issued to investors on Thursday. The firm currently has a “hold” rating on the industrial products company’s stock. Cowen and Company’s price objective would suggest a potential downside of 8.08% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Friday, October 6th. BidaskClub upgraded shares of Kaiser Aluminum Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Deutsche Bank AG set a $100.00 price objective on shares of Kaiser Aluminum Corporation and gave the stock a “buy” rating in a report on Monday, July 31st. Morgan Stanley restated an “equal weight” rating and set a $87.00 price objective (up from $80.00) on shares of Kaiser Aluminum Corporation in a report on Tuesday, July 25th. Finally, Bank of America Corporation raised their price objective on shares of Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the stock an “underperform” rating in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $97.00.
Shares of Kaiser Aluminum Corporation (NASDAQ KALU) traded up 0.87% during mid-day trading on Thursday, reaching $106.45. 28,093 shares of the company’s stock traded hands. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 23.38 and a beta of 0.54. The company’s 50 day moving average is $100.28 and its 200-day moving average is $90.18. Kaiser Aluminum Corporation has a 52 week low of $69.41 and a 52 week high of $106.71.
Kaiser Aluminum Corporation (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.46. The company had revenue of $356.00 million for the quarter, compared to analysts’ expectations of $349.62 million. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. Equities analysts expect that Kaiser Aluminum Corporation will post $5.43 earnings per share for the current fiscal year.
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In other news, VP Del L. Miller sold 817 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $97.07, for a total transaction of $79,306.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jack A. Hockema sold 5,982 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $102.66, for a total transaction of $614,112.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,696 shares of company stock worth $2,662,349. 3.00% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. boosted its holdings in shares of Kaiser Aluminum Corporation by 1.4% during the 2nd quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock worth $127,000 after buying an additional 20 shares during the period. SG Americas Securities LLC bought a new stake in shares of Kaiser Aluminum Corporation during the 1st quarter worth about $119,000. Ameritas Investment Partners Inc. bought a new stake in shares of Kaiser Aluminum Corporation during the 1st quarter worth about $122,000. Flinton Capital Management LLC boosted its holdings in shares of Kaiser Aluminum Corporation by 54.3% during the 2nd quarter. Flinton Capital Management LLC now owns 1,836 shares of the industrial products company’s stock worth $162,000 after buying an additional 646 shares during the period. Finally, Riverhead Capital Management LLC boosted its holdings in shares of Kaiser Aluminum Corporation by 58.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,899 shares of the industrial products company’s stock worth $168,000 after buying an additional 699 shares during the period. Institutional investors own 98.04% of the company’s stock.
About Kaiser Aluminum Corporation
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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