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

A number of other research firms have also issued reports on KALU. Morgan Stanley raised their price target on Kaiser Aluminum from $101.00 to $105.00 and gave the stock an equal weight rating in a report on Wednesday, August 1st. Zacks Investment Research raised Kaiser Aluminum from a sell rating to a hold rating in a report on Thursday, July 12th. Jefferies Financial Group began coverage on Kaiser Aluminum in a report on Monday, July 16th. They set a hold rating and a $122.00 price target on the stock. ValuEngine downgraded shares of Kaiser Aluminum from a buy rating to a hold rating in a research report on Thursday, June 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Kaiser Aluminum from $91.00 to $100.00 and gave the company a neutral rating in a research report on Friday, June 15th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $107.63.

Shares of NASDAQ KALU traded down $0.56 during midday trading on Tuesday, reaching $101.34. 120,675 shares of the company 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 1 year low of $90.93 and a 1 year high of $119.66. The firm has a market cap of $1.81 billion, a P/E ratio of 19.91, a P/E/G 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.10. Kaiser Aluminum had a return on equity of 12.03% and a net margin of 3.43%. The firm had revenue of $415.00 million for the quarter, compared to analyst estimates of $398.95 million. During the same quarter last year, the company posted $1.47 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. As a group, analysts anticipate that Kaiser Aluminum will post 6.52 earnings per share for the current year.

In related news, CEO Jack A. Hockema sold 6,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $111.91, for a total value of $671,460.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Melinda C. Ellsworth sold 1,100 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $112.23, for a total transaction of $123,453.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,413 shares of company stock valued at $939,776. 3.20% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Kaiser Aluminum by 2.1% in the second quarter. BlackRock Inc. now owns 2,230,561 shares of the industrial products company’s stock valued at $232,223,000 after purchasing an additional 46,841 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Kaiser Aluminum by 21,148.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 898,387 shares of the industrial products company’s stock valued at $283,000 after acquiring an additional 894,159 shares during the period. Macquarie Group Ltd. lifted its position in shares of Kaiser Aluminum by 10.5% during the 2nd quarter. Macquarie Group Ltd. now owns 539,496 shares of the industrial products company’s stock valued at $56,167,000 after acquiring an additional 51,451 shares during the period. Northern Trust Corp lifted its position in shares of Kaiser Aluminum by 4.7% during the 2nd quarter. Northern Trust Corp now owns 499,365 shares of the industrial products company’s stock valued at $51,989,000 after acquiring an additional 22,431 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Kaiser Aluminum by 0.6% during the 2nd quarter. Victory Capital Management Inc. now owns 497,539 shares of the industrial products company’s stock valued at $51,799,000 after acquiring an additional 3,167 shares during the period. Hedge funds and other institutional investors own 99.81% of the company’s stock.

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.

Further Reading: Buyback

Analyst Recommendations for Kaiser Aluminum (NASDAQ:KALU)

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