Century Aluminum (CENX) Price Target Cut to $9.00 by Analysts at Morgan Stanley
Century Aluminum (NASDAQ:CENX) had its price target decreased by investment analysts at Morgan Stanley from $10.00 to $9.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price target points to a potential upside of 5.26% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Century Aluminum from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a research report on Monday, December 31st. B. Riley set a $15.00 price target on Century Aluminum and gave the stock a “buy” rating in a research report on Friday, February 22nd. BidaskClub raised Century Aluminum from a “sell” rating to a “hold” rating in a research report on Thursday, January 31st. Berenberg Bank raised Century Aluminum from a “sell” rating to a “hold” rating and cut their price target for the stock from $10.00 to $9.00 in a research report on Monday, January 14th. They noted that the move was a valuation call. Finally, ValuEngine raised Century Aluminum from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $13.89.
NASDAQ CENX opened at $8.55 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 2.26. Century Aluminum has a 1 year low of $6.54 and a 1 year high of $20.19.
In other Century Aluminum news, insider Michael A. Bless sold 25,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $8.96, for a total transaction of $224,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.59% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Century Aluminum by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 562,761 shares of the industrial products company’s stock worth $4,112,000 after purchasing an additional 17,070 shares during the period. Norges Bank purchased a new stake in shares of Century Aluminum during the 4th quarter worth about $553,000. Millennium Management LLC purchased a new stake in shares of Century Aluminum during the 4th quarter worth about $4,668,000. Macquarie Group Ltd. boosted its stake in shares of Century Aluminum by 1,084.9% during the 4th quarter. Macquarie Group Ltd. now owns 18,959 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 17,359 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Century Aluminum by 2.4% during the 4th quarter. Legal & General Group Plc now owns 115,304 shares of the industrial products company’s stock worth $846,000 after acquiring an additional 2,701 shares in the last quarter. 55.93% of the stock is currently owned by institutional investors.
Century Aluminum Company Profile
Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary and secondary aluminum in the United States and Iceland. The company was founded in 1995 and is headquartered in Chicago, Illinois.
Further Reading: How to Invest in the Dividend Aristocrat Index
Receive News & Ratings for Century Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Century Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.