Constellium (NYSE:CSTM) Price Target Raised to $30.00

Constellium (NYSE:CSTM) had its price objective raised by JPMorgan Chase & Co. from $29.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

CSTM has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Constellium in a report on Monday, December 29th. Zacks Research downgraded Constellium from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $29.00 price objective on shares of Constellium in a report on Thursday, April 9th. BMO Capital Markets set a $32.00 price objective on Constellium and gave the stock an “outperform” rating in a report on Thursday, April 9th. Finally, Wells Fargo & Company upped their price objective on Constellium from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Constellium Stock Down 0.1%

Shares of CSTM opened at $29.62 on Thursday. The company has a market capitalization of $4.03 billion, a P/E ratio of 15.35 and a beta of 1.43. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.29 and a quick ratio of 0.51. Constellium has a one year low of $8.24 and a one year high of $31.20. The business’s 50 day simple moving average is $25.85 and its 200-day simple moving average is $20.89.

Constellium (NYSE:CSTM) last announced its earnings results on Saturday, February 14th. The industrial products company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.36 by $0.44. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.05 billion. Constellium had a return on equity of 32.14% and a net margin of 3.23%.Constellium’s revenue was up 27.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) EPS. As a group, sell-side analysts predict that Constellium will post 1.1 EPS for the current fiscal year.

Constellium declared that its board has authorized a share buyback plan on Thursday, March 12th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 8.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Jack Q. Guo sold 41,717 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $25.87, for a total value of $1,079,218.79. Following the completion of the sale, the chief financial officer owned 190,879 shares in the company, valued at $4,938,039.73. This represents a 17.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philippe Hoffmann sold 4,728 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $25.87, for a total transaction of $122,313.36. Following the completion of the sale, the insider owned 182,120 shares of the company’s stock, valued at approximately $4,711,444.40. This represents a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 214,543 shares of company stock worth $5,565,129 over the last 90 days. 1.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Constellium

A number of large investors have recently made changes to their positions in the company. Millennium Management LLC increased its position in shares of Constellium by 35.4% in the 3rd quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock valued at $103,204,000 after buying an additional 1,813,400 shares in the last quarter. Encompass Capital Advisors LLC increased its position in shares of Constellium by 9.2% in the 4th quarter. Encompass Capital Advisors LLC now owns 4,657,915 shares of the industrial products company’s stock valued at $87,802,000 after buying an additional 393,640 shares in the last quarter. Vanguard Group Inc. increased its holdings in Constellium by 22.9% during the 4th quarter. Vanguard Group Inc. now owns 4,054,982 shares of the industrial products company’s stock worth $76,436,000 after purchasing an additional 755,918 shares in the last quarter. Morgan Stanley increased its holdings in Constellium by 48.4% during the 4th quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock worth $70,275,000 after purchasing an additional 1,216,516 shares in the last quarter. Finally, State Street Corp increased its holdings in Constellium by 3.6% during the 4th quarter. State Street Corp now owns 2,660,518 shares of the industrial products company’s stock worth $50,151,000 after purchasing an additional 92,955 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

About Constellium

Constellium SE is a global leader in the design and manufacture of high-performance aluminum products and solutions. The company serves key markets including aerospace, automotive, and packaging, offering advanced rolled and extruded aluminum sheet, plate and structural components. Its product portfolio encompasses precision-engineered parts for commercial and military aircraft, automotive body structures and closures, beverage and specialty packaging, as well as industrial and structural applications.

Established in 2011 through the consolidation of Rio Tinto Alcan’s rolled-products and engineered-products businesses, Constellium has built a reputation for innovation in lightweighting and sustainability.