Kaiser Aluminum Corporation (NASDAQ:KALU) received a $100.00 price objective from analysts at Deutsche Bank AG in a research note issued on Monday. The firm currently has a “buy” rating on the industrial products company’s stock. Deutsche Bank AG’s price target would indicate a potential upside of 5.94% from the company’s previous close.
KALU has been the topic of several other reports. Zacks Investment Research raised shares of Kaiser Aluminum Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. BidaskClub raised shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Bank of America Corporation raised their target price on shares of Kaiser Aluminum Corporation from $79.00 to $85.00 and gave the stock an “underperform” rating in a research report on Friday, July 21st. Cowen and Company raised their target price on shares of Kaiser Aluminum Corporation from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 19th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $87.00 target price (up from $80.00) on shares of Kaiser Aluminum Corporation in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Kaiser Aluminum Corporation has an average rating of “Buy” and an average target price of $96.00.
Shares of Kaiser Aluminum Corporation (NASDAQ KALU) traded up 1.72% during trading on Monday, hitting $96.01. 30,246 shares of the stock traded hands. The firm has a market cap of $1.63 billion, a PE ratio of 21.09 and a beta of 0.52. The company’s 50 day moving average is $90.12 and its 200 day moving average is $82.92. Kaiser Aluminum Corporation has a 52-week low of $69.41 and a 52-week high of $98.72.
Kaiser Aluminum Corporation (NASDAQ:KALU) last released its earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $349.62 million. During the same period last year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Kaiser Aluminum Corporation will post $5.44 EPS for the current year.
Kaiser Aluminum Corporation declared that its Board of Directors has authorized a share repurchase plan on Monday, April 17th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other Kaiser Aluminum Corporation news, VP Del L. Miller sold 1,282 shares of Kaiser Aluminum Corporation stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $96.81, for a total transaction of $124,110.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Ray Parkinson sold 2,000 shares of Kaiser Aluminum Corporation stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $80.75, for a total transaction of $161,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,282 shares of company stock worth $1,198,230. 3.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can boosted its position in shares of Kaiser Aluminum Corporation by 4.8% in the first quarter. Great West Life Assurance Co. Can now owns 24,761 shares of the industrial products company’s stock worth $1,977,000 after buying an additional 1,143 shares during the period. Geneva Advisors LLC boosted its position in shares of Kaiser Aluminum Corporation by 8.9% in the first quarter. Geneva Advisors LLC now owns 6,535 shares of the industrial products company’s stock worth $522,000 after buying an additional 532 shares during the period. Adams Diversified Equity Fund Inc. boosted its position in shares of Kaiser Aluminum Corporation by 53.4% in the first quarter. Adams Diversified Equity Fund Inc. now owns 13,500 shares of the industrial products company’s stock worth $1,079,000 after buying an additional 4,700 shares during the period. Investment Counselors of Maryland LLC boosted its position in shares of Kaiser Aluminum Corporation by 13.1% in the first quarter. Investment Counselors of Maryland LLC now owns 222,547 shares of the industrial products company’s stock worth $17,782,000 after buying an additional 25,830 shares during the period. Finally, Granite Investment Partners LLC boosted its position in shares of Kaiser Aluminum Corporation by 31.3% in the first quarter. Granite Investment Partners LLC now owns 138,044 shares of the industrial products company’s stock worth $11,030,000 after buying an additional 32,947 shares during the period. 98.17% of the stock is currently owned by hedge funds and other 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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