Kaiser Aluminum (NASDAQ:KALU) Stock Lifted to Strong-Buy by Barclays

Key Points

• Barclays upgraded Kaiser Aluminum to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $169.40.
• Kaiser Aluminum reported strong quarterly results, earning $5.53 per share versus the $2.66 consensus estimate, while revenue rose 52.7% year over year to $1.26 billion.
• KALU shares opened down 2.4% at $148.17, below both their 50-day and 200-day moving averages; institutional investors and hedge funds own 99.29% of the stock.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) was upgraded by equities researchers at Barclays to a "strong-buy" rating in a research note issued to investors on Wednesday, Zacks reports.

KALU has been the topic of a number of other reports. Zacks Research downgraded shares of Kaiser Aluminum from a "strong-buy" rating to a "hold" rating in a report on Friday, September 25th. Wells Fargo & Company upgraded Kaiser Aluminum from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $169.00 to $160.00 in a research report on Friday, September 18th. Wall Street Zen raised Kaiser Aluminum from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 2nd. KeyCorp decreased their target price on Kaiser Aluminum from $183.00 to $181.00 and set an "overweight" rating on the stock in a research report on Thursday, October 8th. Finally, UBS Group upgraded Kaiser Aluminum from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $179.00 to $184.00 in a research report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Kaiser Aluminum has a consensus rating of "Moderate Buy" and an average price target of $169.40.

Kaiser Aluminum Stock Down 2.4%

Shares of Kaiser Aluminum stock opened at $148.17 on Wednesday. The company has a 50-day simple moving average of $159.64 and a two-hundred day simple moving average of $164.36. The stock has a market capitalization of $2.42 billion, a PE ratio of 10.98 and a beta of 1.59. Kaiser Aluminum has a 52-week low of $77.24 and a 52-week high of $199.89. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.17 and a current ratio of 2.50.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 EPS for the quarter, beating analysts' consensus estimates of $2.66 by $2.87. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The business's revenue for the quarter was up 52.7% on a year-over-year basis. On average, analysts anticipate that Kaiser Aluminum will post 13.40 EPS for the current fiscal year.

Hedge Funds Weigh In On Kaiser Aluminum

Several hedge funds have recently made changes to their positions in KALU. GAMMA Investing LLC lifted its position in Kaiser Aluminum by 18.5% during the third quarter. GAMMA Investing LLC now owns 1,063 shares of the industrial products company's stock valued at $154,000 after purchasing an additional 166 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Kaiser Aluminum by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 400 shares of the industrial products company's stock worth $58,000 after acquiring an additional 98 shares during the period. QRG Capital Management Inc. increased its position in Kaiser Aluminum by 11.4% during the second quarter. QRG Capital Management Inc. now owns 3,005 shares of the industrial products company's stock valued at $588,000 after acquiring an additional 308 shares during the last quarter. Tidal Investments LLC purchased a new stake in Kaiser Aluminum during the second quarter valued at $1,355,000. Finally, Engineers Gate Manager LP lifted its holdings in Kaiser Aluminum by 33.5% in the second quarter. Engineers Gate Manager LP now owns 10,333 shares of the industrial products company's stock valued at $2,021,000 after acquiring an additional 2,593 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a manufacturer of semi-fabricated aluminum products serving customers in the aerospace, automotive, industrial, packaging, and other end markets. The company produces engineered aluminum products designed for applications that require characteristics such as strength, light weight, corrosion resistance, and thermal conductivity.

Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other specialty products.

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