Kaiser Aluminum (NASDAQ:KALU) Stock Rating Upgraded by Wells Fargo & Company

Key Points

• Wells Fargo upgraded Kaiser Aluminum from “underweight” to “equal weight,” while reducing its price target from $169 to $160—implying approximately 3.17% upside from the prior close.
• Analyst sentiment is generally positive: Kaiser Aluminum has a consensus “Moderate Buy” rating and an average price target of $167.25, with recent upgrades from UBS Group, Zacks Research and Wall Street Zen.
• The company reported strong quarterly results, including adjusted earnings of $5.53 per share versus a $2.66 estimate and revenue of $1.26 billion, up 52.7% year over year. Institutional investors own approximately 99.29% of the stock.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) was upgraded by Wells Fargo & Company from an "underweight" rating to an "equal weight" rating in a report issued on Friday, Benzinga reports. The brokerage currently has a $160.00 price objective on the industrial products company's stock, down from their previous price objective of $169.00. Wells Fargo & Company's price objective suggests a potential upside of 3.17% from the stock's previous close.

A number of other analysts have also commented on KALU. UBS Group upgraded shares of Kaiser Aluminum from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $179.00 to $184.00 in a research note on Monday, August 31st. Zacks Research upgraded shares of Kaiser Aluminum from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. Wall Street Zen raised Kaiser Aluminum from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 2nd. Finally, Weiss Ratings cut Kaiser Aluminum from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $167.25.

Kaiser Aluminum Trading Up 1.8%

Shares of NASDAQ:KALU opened at $155.08 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.50 and a quick ratio of 1.17. Kaiser Aluminum has a 1 year low of $73.08 and a 1 year high of $199.89. The company has a market cap of $2.54 billion, a P/E ratio of 11.50 and a beta of 1.61. The stock's fifty day moving average price is $164.13 and its 200-day moving average price is $160.25.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $5.53 EPS for the quarter, topping the consensus estimate of $2.66 by $2.87. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.12 billion. Kaiser Aluminum had a return on equity of 24.71% and a net margin of 5.49%.Kaiser Aluminum's revenue for the quarter was up 52.7% on a year-over-year basis. During the same period last year, the company earned $1.21 EPS. Sell-side analysts expect that Kaiser Aluminum will post 10.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its holdings in shares of Kaiser Aluminum by 1.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 3,704 shares of the industrial products company's stock worth $446,000 after purchasing an additional 62 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Kaiser Aluminum by 18.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 471 shares of the industrial products company's stock worth $54,000 after purchasing an additional 73 shares during the period. Allworth Financial LP grew its position in Kaiser Aluminum by 146.6% in the 2nd quarter. Allworth Financial LP now owns 143 shares of the industrial products company's stock valued at $28,000 after buying an additional 85 shares in the last quarter. ProShare Advisors LLC increased its stake in Kaiser Aluminum by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 3,127 shares of the industrial products company's stock valued at $359,000 after buying an additional 97 shares during the period. Finally, Nykredit A S bought a new position in shares of Kaiser Aluminum in the second quarter valued at approximately $30,000. 99.29% of the stock is currently owned by hedge funds and other institutional investors.

About Kaiser Aluminum

Kaiser Aluminum Corporation is a manufacturer of semi-fabricated aluminum products. The company produces flat-rolled, extruded and forged aluminum products used by manufacturers in the aerospace, automotive, packaging, industrial and other specialized markets.

Its product portfolio includes aerospace plate and sheet, automotive body sheet, extruded shapes, rod and bar, forged components, and other customized aluminum products. Kaiser Aluminum serves original equipment manufacturers and suppliers that use aluminum for its light weight, strength, durability and recyclability.

The company traces its history to 1946 and operates manufacturing facilities in the United States.

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