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

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

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. “

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KALU has been the topic of several other reports. ValuEngine raised shares of Kaiser Aluminum from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Deutsche Bank lowered their price objective on shares of Kaiser Aluminum from $107.00 to $103.00 and set a “hold” rating on the stock in a report on Tuesday, February 27th. BidaskClub downgraded shares of Kaiser Aluminum from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Cowen restated a “hold” rating and set a $107.00 price objective on shares of Kaiser Aluminum in a report on Friday, February 23rd. Finally, Goldman Sachs assumed coverage on shares of Kaiser Aluminum in a report on Tuesday. They set a “neutral” rating and a $111.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $103.71.

Shares of KALU stock opened at $103.50 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.79 and a quick ratio of 2.59. Kaiser Aluminum has a 12 month low of $76.73 and a 12 month high of $116.86. The company has a market cap of $1,772.81, a price-to-earnings ratio of 40.27, a PEG ratio of 1.09 and a beta of 0.63.

Kaiser Aluminum (NASDAQ:KALU) last issued its earnings results on Wednesday, February 21st. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.04). The company had revenue of $353.00 million for the quarter, compared to the consensus estimate of $348.95 million. Kaiser Aluminum had a return on equity of 11.35% and a net margin of 3.25%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share. sell-side analysts anticipate that Kaiser Aluminum will post 6.46 earnings per share for the current year.

In other news, COO Keith Harvey sold 6,608 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $107.06, for a total value of $707,452.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jack A. Hockema sold 9,000 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $104.01, for a total transaction of $936,090.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,391 shares of company stock valued at $2,474,402. 3.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. NWQ Investment Management Company LLC purchased a new stake in Kaiser Aluminum during the fourth quarter worth about $36,709,000. Victory Capital Management Inc. boosted its position in Kaiser Aluminum by 22.4% during the fourth quarter. Victory Capital Management Inc. now owns 548,604 shares of the industrial products company’s stock worth $58,618,000 after purchasing an additional 100,461 shares during the period. American Century Companies Inc. bought a new position in Kaiser Aluminum during the fourth quarter worth about $7,802,000. BlackRock Inc. boosted its position in Kaiser Aluminum by 3.0% during the fourth quarter. BlackRock Inc. now owns 2,152,997 shares of the industrial products company’s stock worth $230,049,000 after purchasing an additional 63,184 shares during the period. Finally, Kennedy Capital Management Inc. bought a new position in Kaiser Aluminum during the fourth quarter worth about $6,350,000.

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Kaiser Aluminum Company Profile

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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