Kaiser Aluminum Corporation (KALU) Downgraded to “Buy” at BidaskClub

Kaiser Aluminum Corporation (NASDAQ:KALU) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday, August 9th.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank AG restated a “buy” rating on shares of Kaiser Aluminum Corporation in a report on Saturday, June 24th. Zacks Investment Research upgraded shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Friday, July 28th. Morgan Stanley reiterated an “equal weight” rating and set a $87.00 price objective (up previously from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th. Cowen and Company lowered shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $96.00 to $97.00 in a research note on Monday, August 7th. They noted that the move was a valuation call. Finally, Bank of America Corporation boosted their price objective on shares of Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the stock an “underperform” rating in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $96.13.

Shares of Kaiser Aluminum Corporation (NASDAQ:KALU) traded up 0.79% during midday trading on Wednesday, reaching $94.72. 141,202 shares of the company’s stock were exchanged. Kaiser Aluminum Corporation has a 12-month low of $69.41 and a 12-month high of $98.72. The stock’s 50 day moving average price is $94.27 and its 200 day moving average price is $84.64. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 20.80 and a beta of 0.54.

Kaiser Aluminum Corporation (NASDAQ:KALU) last posted its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.01 by $0.46. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The business had revenue of $356 million during the quarter, compared to analyst estimates of $349.62 million. During the same quarter in the previous year, the business posted $1.02 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Kaiser Aluminum Corporation will post $5.47 earnings per share for the current fiscal year.

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In other Kaiser Aluminum Corporation news, CEO Jack A. Hockema sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $91.18, for a total transaction of $820,620.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Malcolm Donnan sold 5,115 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $95.39, for a total transaction of $487,919.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,714 shares of company stock worth $1,748,706. 3.00% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in Kaiser Aluminum Corporation during the first quarter valued at $112,000. First Mercantile Trust Co. increased its stake in Kaiser Aluminum Corporation by 1.4% in the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock valued at $127,000 after buying an additional 20 shares in the last quarter. SG Americas Securities LLC bought a new stake in Kaiser Aluminum Corporation during the first quarter valued at $119,000. Ameritas Investment Partners Inc. bought a new stake in Kaiser Aluminum Corporation during the first quarter valued at $122,000. Finally, Flinton Capital Management LLC increased its stake in Kaiser Aluminum Corporation by 54.3% in the second quarter. Flinton Capital Management LLC now owns 1,836 shares of the industrial products company’s stock valued at $162,000 after buying an additional 646 shares in the last quarter. 99.19% of the stock is currently owned by institutional investors.

Kaiser Aluminum Corporation Company Profile

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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