Kaiser Aluminum (KALU) Rating Lowered to Sell at Zacks Investment Research

Kaiser Aluminum (NASDAQ:KALU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

According to Zacks, “Kaiser Aluminum is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company’s North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube, and wire products, adhering to traditions of quality, innovation, and service. Kaiser Aluminum is headquartered in Foothill Ranch, California. “

Other equities analysts have also recently issued research reports about the company. BidaskClub raised Kaiser Aluminum from a “hold” rating to a “buy” rating in a report on Friday, December 7th. Jefferies Financial Group raised Kaiser Aluminum from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Kaiser Aluminum presently has a consensus rating of “Hold” and an average target price of $107.75.

KALU stock traded up $0.78 during mid-day trading on Thursday, reaching $95.95. 67,512 shares of the company’s stock were exchanged, compared to its average volume of 123,750. The company has a market capitalization of $1.57 billion, a P/E ratio of 18.85 and a beta of 0.90. The company has a current ratio of 3.50, a quick ratio of 2.48 and a debt-to-equity ratio of 0.49. Kaiser Aluminum has a 12-month low of $83.29 and a 12-month high of $119.66.

Kaiser Aluminum (NASDAQ:KALU) last issued its quarterly earnings results on Wednesday, October 17th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.12). The business had revenue of $393.10 million for the quarter, compared to analysts’ expectations of $383.84 million. Kaiser Aluminum had a return on equity of 13.23% and a net margin of 3.41%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 EPS. On average, research analysts predict that Kaiser Aluminum will post 6.31 earnings per share for the current fiscal year.

In related news, VP Melinda C. Ellsworth sold 1,100 shares of the stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $95.36, for a total value of $104,896.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jack A. Hockema sold 4,500 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $93.35, for a total value of $420,075.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,600 shares of company stock valued at $1,102,276. Insiders own 3.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC boosted its position in shares of Kaiser Aluminum by 39.8% during the third quarter. Fisher Asset Management LLC now owns 203,052 shares of the industrial products company’s stock worth $22,145,000 after buying an additional 57,800 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Kaiser Aluminum by 6.2% during the third quarter. JPMorgan Chase & Co. now owns 351,167 shares of the industrial products company’s stock worth $38,298,000 after buying an additional 20,582 shares during the period. Macquarie Group Ltd. boosted its position in shares of Kaiser Aluminum by 10.5% during the second quarter. Macquarie Group Ltd. now owns 539,496 shares of the industrial products company’s stock worth $56,167,000 after buying an additional 51,451 shares during the period. Capital Fund Management S.A. boosted its position in shares of Kaiser Aluminum by 24.1% during the second quarter. Capital Fund Management S.A. now owns 3,600 shares of the industrial products company’s stock worth $375,000 after buying an additional 700 shares during the period. Finally, NEXT Financial Group Inc purchased a new position in shares of Kaiser Aluminum during the third quarter worth $117,000. 99.28% of the stock is owned by institutional investors.

About Kaiser Aluminum

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

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