Kaiser Aluminum (NASDAQ:KALU) Stock Price Target Cut by Wells Fargo & Company

Kaiser Aluminum (NASDAQ:KALU) had its price target cut by Wells Fargo & Company from $160.00 to $125.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.83% from the stock’s previous close.

Several other analysts also recently commented on KALU. UBS Group raised shares of Kaiser Aluminum from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $184.00 in a report on Monday, August 31st. Barclays initiated coverage on shares of Kaiser Aluminum in a research note on Wednesday, October 14th. They issued an “overweight” rating and a $180.00 price target on the stock. Zacks Research cut Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. Wall Street Zen raised Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. Finally, KeyCorp lowered their target price on Kaiser Aluminum from $183.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $162.40.

Kaiser Aluminum Stock Performance

Kaiser Aluminum stock traded down $5.18 during mid-day trading on Friday, hitting $109.81. 99,856 shares of the company’s stock traded hands, compared to its average volume of 246,978. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.50 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $154.82 and a two-hundred day simple moving average of $165.23. Kaiser Aluminum has a fifty-two week low of $87.89 and a fifty-two week high of $199.89. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 8.15 and a beta of 1.59.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $1.89 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.48). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Kaiser Aluminum had a net margin of 4.85% and a return on equity of 24.27%. Kaiser Aluminum’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 earnings per share. On average, research analysts expect that Kaiser Aluminum will post 13.40 EPS for the current fiscal year.

Hedge Funds Weigh In On Kaiser Aluminum

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of Kaiser Aluminum in the 2nd quarter valued at $1,355,000. Great Lakes Advisors LLC bought a new position in shares of Kaiser Aluminum in the 2nd quarter valued at $8,045,000. Jennison Associates LLC bought a new position in shares of Kaiser Aluminum in the 1st quarter valued at $756,000. Louisiana State Employees Retirement System bought a new position in shares of Kaiser Aluminum in the 1st quarter valued at $856,000. Finally, Cvfg LLC acquired a new position in shares of Kaiser Aluminum during the 1st quarter worth $791,000. 99.29% of the stock is owned by institutional investors.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a producer of semi-fabricated aluminum products used by manufacturers in the aerospace and defense, automotive, industrial, and consumer products markets. The company supplies aluminum materials designed for applications that require strength, light weight, corrosion resistance, and other specialized performance characteristics.

Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other fabricated aluminum products.