KeyCorp Issues Pessimistic Forecast for Kaiser Aluminum (NASDAQ:KALU) Stock Price

Kaiser Aluminum (NASDAQ:KALU) had its price objective reduced by equities researchers at KeyCorp from $181.00 to $127.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp‘s price objective points to a potential upside of 18.38% from the stock’s previous close.

A number of other brokerages have also recently issued reports on KALU. Weiss Ratings cut Kaiser Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Wells Fargo & Company cut their target price on Kaiser Aluminum from $160.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday. Barclays reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Kaiser Aluminum in a research note on Monday. Wall Street Zen cut Kaiser Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. upgraded Kaiser Aluminum from an “underweight” rating to a “neutral” rating and set a $140.00 price objective for the company in a research note on Monday. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Kaiser Aluminum currently has an average rating of “Moderate Buy” and an average target price of $146.20.

Kaiser Aluminum Stock Performance

NASDAQ KALU opened at $107.28 on Monday. Kaiser Aluminum has a twelve month low of $87.89 and a twelve month high of $199.89. The company has a quick ratio of 1.25, a current ratio of 2.63 and a debt-to-equity ratio of 1.06. The stock has a market cap of $1.75 billion, a P/E ratio of 8.28 and a beta of 1.59. The company’s 50-day simple moving average is $153.33 and its 200 day simple moving average is $165.07.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.48). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Kaiser Aluminum had a return on equity of 23.65% and a net margin of 4.85%. The firm’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 EPS. As a group, research analysts forecast that Kaiser Aluminum will post 13.40 earnings per share for the current fiscal year.

Institutional Trading of Kaiser Aluminum

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

About Kaiser Aluminum

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.