Zacks Research Upgrades Century Aluminum (NASDAQ:CENX) to "Hold"

Key Points

• Zacks Research upgraded Century Aluminum from “strong sell” to “hold,” while broader analyst sentiment remains “Moderate Buy” with a consensus price target of $64.60.
• Century Aluminum shares opened at $33.50, down 2.5%, well below their 12-month high of $70.43; the stock has a $3.32 billion market capitalization and a 5.79 price-to-earnings ratio.
• The company beat quarterly earnings expectations with $2.46 in EPS versus $2.33 expected, while revenue rose 59% year over year to $752.1 million; institutional investors own 61.59% of its shares.

Century Aluminum (NASDAQ:CENX - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other equities analysts have also issued reports on the company. Wall Street Zen lowered Century Aluminum from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 20th. UBS Group lowered their price target on Century Aluminum from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, October 8th. Wells Fargo & Company cut their price target on shares of Century Aluminum from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, September 18th. Barclays initiated coverage on shares of Century Aluminum in a research note on Wednesday, October 14th. They set an "equal weight" rating and a $40.00 price objective on the stock. Finally, B. Riley Financial restated a "buy" rating on shares of Century Aluminum in a report on Tuesday, August 18th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.60.

Century Aluminum Stock Down 2.5%

Shares of Century Aluminum stock opened at $33.50 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. Century Aluminum has a 12 month low of $25.40 and a 12 month high of $70.43. The business has a fifty day simple moving average of $41.06 and a 200 day simple moving average of $50.31. The stock has a market cap of $3.32 billion, a PE ratio of 5.79 and a beta of 2.07.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.13. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%. The business had revenue of $752.10 million during the quarter, compared to the consensus estimate of $817.15 million. The company's quarterly revenue was up 59.0% compared to the same quarter last year. Research analysts predict that Century Aluminum will post 7.75 EPS for the current year.

Institutional Trading of Century Aluminum

A number of large investors have recently made changes to their positions in the company. CWA Asset Management Group LLC lifted its position in Century Aluminum by 29.8% in the 3rd quarter. CWA Asset Management Group LLC now owns 8,074 shares of the industrial products company's stock valued at $291,000 after acquiring an additional 1,853 shares in the last quarter. Insight Wealth Strategies LLC boosted its stake in Century Aluminum by 29.2% in the 3rd quarter. Insight Wealth Strategies LLC now owns 185,329 shares of the industrial products company's stock worth $6,668,000 after purchasing an additional 41,857 shares during the period. GAMMA Investing LLC boosted its stake in Century Aluminum by 8.5% in the 3rd quarter. GAMMA Investing LLC now owns 5,178 shares of the industrial products company's stock worth $186,000 after purchasing an additional 407 shares during the period. Farther Finance Advisors LLC increased its holdings in Century Aluminum by 230.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,322 shares of the industrial products company's stock worth $156,000 after purchasing an additional 3,015 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in Century Aluminum by 27.3% during the 3rd quarter. CoreCap Advisors LLC now owns 2,362 shares of the industrial products company's stock worth $85,000 after purchasing an additional 507 shares in the last quarter. Institutional investors own 61.59% of the company's stock.

Century Aluminum Company Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, aerospace, and other industrial applications.

Century Aluminum's operations are located in the United States and Iceland. Its U.S. facilities include the Sebree smelter in Kentucky and the Mt. Holly smelter in South Carolina, while its Icelandic operations are based at the Grundartangi aluminum smelter.

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