Century Aluminum (NASDAQ:CENX) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Century Aluminum has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, reflecting growing analyst confidence in the stock.
• The company reported a quarterly revenue of $628.10 million, surpassing analyst estimates, but missed earnings expectations with a reported EPS of ($0.05).
• Shares opened at $21.6050 on Monday, with a current consensus rating of "Buy" and a price target of $24.67 according to MarketBeat.

Zacks Research upgraded shares of Century Aluminum (NASDAQ:CENX - Free Report) from a hold rating to a strong-buy rating in a research note released on Monday, August 18th,Zacks.com reports.

Several other research firms have also issued reports on CENX. BMO Capital Markets reissued an "outperform" rating on shares of Century Aluminum in a report on Friday, August 8th. B. Riley increased their price objective on shares of Century Aluminum from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded Century Aluminum from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $24.67.

Century Aluminum Stock Performance

Shares of NASDAQ CENX traded up $0.1390 during midday trading on Monday, hitting $22.3490. 550,048 shares of the company's stock traded hands, compared to its average volume of 1,666,474. Century Aluminum has a 1 year low of $11.63 and a 1 year high of $25.39. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 19.25 and a beta of 2.53. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.75. The firm has a fifty day moving average of $20.43 and a 200 day moving average of $18.72.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.34 by ($0.39). Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. The business had revenue of $628.10 million for the quarter, compared to analysts' expectations of $606.10 million. On average, analysts forecast that Century Aluminum will post 2.76 earnings per share for the current year.

Insider Buying and Selling at Century Aluminum

In related news, SVP Matt Aboud sold 12,027 shares of Century Aluminum stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total value of $279,868.29. Following the completion of the sale, the senior vice president directly owned 62,589 shares in the company, valued at $1,456,446.03. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Century Aluminum

A number of large investors have recently added to or reduced their stakes in the company. State of Wyoming bought a new position in Century Aluminum in the second quarter worth about $1,396,000. Nomura Holdings Inc. bought a new position in Century Aluminum in the second quarter worth about $283,000. Public Sector Pension Investment Board raised its holdings in Century Aluminum by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 178,097 shares of the industrial products company's stock worth $3,209,000 after purchasing an additional 13,264 shares in the last quarter. Headlands Technologies LLC raised its holdings in Century Aluminum by 89.2% in the second quarter. Headlands Technologies LLC now owns 14,996 shares of the industrial products company's stock worth $270,000 after purchasing an additional 7,070 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Century Aluminum by 8.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 48,209 shares of the industrial products company's stock worth $869,000 after purchasing an additional 3,649 shares in the last quarter. 61.59% of the stock is currently owned by institutional investors.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.