KeyCorp Issues Pessimistic Forecast for Kaiser Aluminum (NASDAQ:KALU) Stock Price

Key Points

• KeyCorp cut Kaiser Aluminum’s price target to $127 from $181 while maintaining an “overweight” rating, implying 18.38% upside from the prior close.
• Analyst views remain mixed, but the stock carries a “Moderate Buy” consensus rating with an average price target of $146.20.
• Kaiser Aluminum reported quarterly EPS of $1.89, missing the $2.37 consensus estimate, despite revenue rising 43.9% year over year to $1.21 billion.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) had its target price lowered by stock analysts at KeyCorp from $181.00 to $127.00 in a research report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. KeyCorp's target price would suggest a potential upside of 18.38% from the stock's previous close.

Several other analysts have also commented on the stock. UBS Group raised shares of Kaiser Aluminum from a "neutral" rating to a "buy" rating and increased their target price for the company from $179.00 to $184.00 in a research note on Monday, August 31st. Wells Fargo & Company decreased their price target on shares of Kaiser Aluminum from $160.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised Kaiser Aluminum from an "underweight" rating to a "neutral" rating and set a $140.00 price target on the stock in a report on Monday. Weiss Ratings downgraded Kaiser Aluminum from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 2nd. Finally, Wall Street Zen downgraded Kaiser Aluminum from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Kaiser Aluminum has a consensus rating of "Moderate Buy" and an average price target of $146.20.

Kaiser Aluminum Price Performance

Shares of NASDAQ KALU opened at $107.28 on Monday. Kaiser Aluminum has a twelve month low of $87.89 and a twelve month high of $199.89. The company has a current ratio of 2.63, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 8.28 and a beta of 1.59. The firm has a 50-day moving average of $153.33 and a two-hundred day moving average of $165.07.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.48). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Kaiser Aluminum had a net margin of 4.85% and a return on equity of 23.65%. The business's revenue for the quarter was up 43.9% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. As a group, analysts expect that Kaiser Aluminum will post 13.40 earnings per share for the current fiscal year.

Institutional Trading of Kaiser Aluminum

A number of hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its holdings in shares of Kaiser Aluminum by 1.7% during 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 in the last quarter. Allworth Financial LP raised its stake in shares of Kaiser Aluminum by 146.6% in the second quarter. Allworth Financial LP now owns 143 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 85 shares in the last quarter. Farther Finance Advisors LLC raised its stake 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 valued at $58,000 after purchasing an additional 98 shares in the last quarter. Nykredit A S acquired a new position in shares of Kaiser Aluminum in the second quarter valued at $30,000. Finally, Amundi lifted its position in Kaiser Aluminum by 7.4% in the first quarter. Amundi now owns 2,391 shares of the industrial products company's stock worth $288,000 after purchasing an additional 165 shares during the period. 99.29% of the stock is owned by hedge funds and other institutional investors.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation is a producer of semi-fabricated aluminum products used by manufacturers in the aerospace and defense, automotive, industrial, and consumer products markets. The company supplies aluminum materials designed for applications that require strength, light weight, corrosion resistance, and other specialized performance characteristics.

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

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