Kaiser Aluminum Corporation (KALU) Receives $93.50 Average Price Target from Analysts
Kaiser Aluminum Corporation (NASDAQ:KALU) has received an average recommendation of “Buy” from the nine research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $97.00.
Several research analysts have commented on KALU shares. BidaskClub raised Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Deutsche Bank AG restated a “buy” rating on shares of Kaiser Aluminum Corporation in a research report on Saturday, June 24th. Zacks Investment Research upgraded Kaiser Aluminum Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Bank of America Corporation boosted their price objective on Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the company an “underperform” rating in a research report on Friday, July 21st. Finally, 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 research report on Tuesday, July 25th.
In other news, CEO Jack A. Hockema sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $91.18, for a total transaction of $820,620.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mark Krouse sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $96.50, for a total value of $144,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,696 shares of company stock worth $3,574,969. 3.00% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Kaiser Aluminum Corporation by 12,449.4% in the 1st quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock valued at $173,757,000 after buying an additional 2,157,364 shares in the last quarter. FMR LLC boosted its stake in Kaiser Aluminum Corporation by 136.8% in the 2nd quarter. FMR LLC now owns 205,561 shares of the industrial products company’s stock valued at $18,196,000 after buying an additional 118,741 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Kaiser Aluminum Corporation by 30.9% in the 2nd quarter. Macquarie Group Ltd. now owns 418,863 shares of the industrial products company’s stock valued at $37,078,000 after buying an additional 98,855 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Kaiser Aluminum Corporation by 414.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 94,571 shares of the industrial products company’s stock valued at $8,371,000 after buying an additional 76,192 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in Kaiser Aluminum Corporation by 1,303.4% in the 2nd quarter. Citadel Advisors LLC now owns 78,283 shares of the industrial products company’s stock valued at $6,930,000 after buying an additional 72,705 shares in the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.
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Kaiser Aluminum Corporation (NASDAQ:KALU) traded up 1.07% during mid-day trading on Wednesday, hitting $106.17. 58,218 shares of the stock were exchanged. Kaiser Aluminum Corporation has a one year low of $69.41 and a one year high of $106.43. The company has a 50-day moving average price of $99.44 and a 200-day moving average price of $89.55. The company has a market cap of $1.79 billion, a P/E ratio of 23.32 and a beta of 0.54.
Kaiser Aluminum Corporation (NASDAQ:KALU) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.46. The company had revenue of $356.00 million for the quarter, compared to the consensus estimate of $349.62 million. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS. On average, analysts predict that Kaiser Aluminum Corporation will post $5.38 earnings per share for the current fiscal year.
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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