Kaiser Aluminum (NASDAQ:KALU) Now Covered by Wells Fargo & Company

Key Points

• Wells Fargo & Company has initiated coverage of Kaiser Aluminum (NASDAQ:KALU) with an "overweight" rating and a price target of $90.00, indicating a potential upside of 16.34% from the current price.
• The stock has received mixed reviews, with Zacks Research downgrading it from "strong-buy" to "hold," while Wall Street Zen upgraded it from "hold" to "buy," reflecting varying analyst sentiments.
• Kaiser Aluminum reported stronger-than-expected earnings, with EPS of $1.21 for the quarter, significantly surpassing analyst estimates, alongside revenue of $823.10 million, indicating solid financial performance.

Stock analysts at Wells Fargo & Company started coverage on shares of Kaiser Aluminum (NASDAQ:KALU - Get Free Report) in a report issued on Wednesday. The brokerage set an "overweight" rating and a $90.00 price target on the industrial products company's stock. Wells Fargo & Company's target price would suggest a potential upside of 16.34% from the stock's current price.

A number of other research firms have also recently commented on KALU. Zacks Research cut Kaiser Aluminum from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Kaiser Aluminum in a report on Saturday, September 27th. Wall Street Zen upgraded Kaiser Aluminum from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Kaiser Aluminum from $64.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Kaiser Aluminum presently has a consensus rating of "Hold" and an average price target of $82.00.

Kaiser Aluminum Price Performance

KALU stock opened at $77.36 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.70 and a quick ratio of 1.30. The business has a 50 day simple moving average of $76.28 and a 200-day simple moving average of $73.27. The firm has a market capitalization of $1.25 billion, a PE ratio of 19.89 and a beta of 1.49. Kaiser Aluminum has a 1 year low of $46.81 and a 1 year high of $97.00.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.72. The business had revenue of $823.10 million during the quarter, compared to analyst estimates of $786.70 million. Kaiser Aluminum had a return on equity of 8.03% and a net margin of 2.05%. Equities research analysts anticipate that Kaiser Aluminum will post 5.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kaiser Aluminum

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in Kaiser Aluminum by 475.0% in the second quarter. EverSource Wealth Advisors LLC now owns 414 shares of the industrial products company's stock valued at $33,000 after buying an additional 342 shares during the last quarter. Quantbot Technologies LP purchased a new position in Kaiser Aluminum in the second quarter valued at $44,000. Tower Research Capital LLC TRC increased its holdings in Kaiser Aluminum by 130.9% in the second quarter. Tower Research Capital LLC TRC now owns 605 shares of the industrial products company's stock valued at $48,000 after buying an additional 343 shares during the last quarter. CWM LLC increased its holdings in Kaiser Aluminum by 136.3% in the second quarter. CWM LLC now owns 1,616 shares of the industrial products company's stock valued at $129,000 after buying an additional 932 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Kaiser Aluminum by 50.3% in the second quarter. BNP Paribas Financial Markets now owns 1,748 shares of the industrial products company's stock valued at $140,000 after buying an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 99.29% of the company's stock.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.

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