KeyCorp Initiates Coverage on Kaiser Aluminum (NASDAQ:KALU)

Key Points

• KeyCorp initiated coverage with an Overweight rating and a $170 price target, implying roughly an 18% upside from the prior close.
• Despite that action and several target changes, the broker consensus remains an average Hold rating with an average target of $126.25 (two Buy, four Hold).
• Kaiser reported quarterly revenue of $929M (up 21.4% YoY) but missed EPS by $0.03 at $1.53; shares traded around $144, with a market cap of $2.34B and a PE of 21.25.

Investment analysts at KeyCorp initiated coverage on shares of Kaiser Aluminum (NASDAQ:KALU - Get Free Report) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $170.00 price target on the industrial products company's stock. KeyCorp's price objective would suggest a potential upside of 18.01% from the company's previous close.

Several other analysts have also commented on KALU. Wells Fargo & Company lifted their price target on shares of Kaiser Aluminum from $125.00 to $137.00 and gave the company an "equal weight" rating in a research report on Wednesday. Weiss Ratings lowered shares of Kaiser Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. Wall Street Zen lowered shares of Kaiser Aluminum from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of Kaiser Aluminum from $118.00 to $124.00 and gave the company a "neutral" rating in a research report on Monday, February 23rd. Finally, Zacks Research downgraded shares of Kaiser Aluminum from a "strong-buy" rating to a "hold" rating in a report on Monday. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $126.25.

Kaiser Aluminum Trading Up 4.4%

Shares of Kaiser Aluminum stock opened at $144.06 on Wednesday. The firm has a market capitalization of $2.34 billion, a PE ratio of 21.25 and a beta of 1.39. Kaiser Aluminum has a twelve month low of $52.53 and a twelve month high of $150.00. The firm's 50-day moving average price is $129.20 and its 200 day moving average price is $112.58. The company has a current ratio of 2.95, a quick ratio of 1.26 and a debt-to-equity ratio of 1.28.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $1.53 earnings per share for the quarter, missing analysts' consensus estimates of $1.56 by ($0.03). Kaiser Aluminum had a net margin of 3.34% and a return on equity of 12.69%. The company had revenue of $929.00 million during the quarter, compared to analysts' expectations of $902.00 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company's quarterly revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts predict that Kaiser Aluminum will post 5.14 EPS for the current fiscal year.

Insider Transactions at Kaiser Aluminum

In other Kaiser Aluminum news, CFO Neal E. West sold 5,000 shares of the company's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $121.72, for a total value of $608,600.00. Following the completion of the transaction, the chief financial officer owned 12,775 shares in the company, valued at $1,554,973. This represents a 28.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kaiser Aluminum

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tactive Advisors LLC purchased a new stake in shares of Kaiser Aluminum in the first quarter valued at about $331,000. Evolve Private Wealth LLC purchased a new stake in shares of Kaiser Aluminum in the first quarter valued at about $484,000. Diversified Trust Co raised its holdings in shares of Kaiser Aluminum by 69.6% in the first quarter. Diversified Trust Co now owns 3,467 shares of the industrial products company's stock valued at $418,000 after buying an additional 1,423 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Kaiser Aluminum by 20.7% in the fourth quarter. Invesco Ltd. now owns 151,511 shares of the industrial products company's stock valued at $17,403,000 after buying an additional 25,969 shares during the last quarter. Finally, Summit Global Investments raised its holdings in shares of Kaiser Aluminum by 148.3% in the fourth quarter. Summit Global Investments now owns 13,274 shares of the industrial products company's stock valued at $1,525,000 after buying an additional 7,927 shares during the last quarter. 99.29% of the stock is owned by hedge funds and other institutional investors.

About Kaiser Aluminum

Kaiser Aluminum Corporation is a U.S.-based producer of semi‐fabricated aluminum products, serving a diverse range of industrial and specialty markets. The company's offerings include extruded, rolled, and forged aluminum products designed to meet stringent performance requirements in sectors such as aerospace, automotive, defense, electronics, and general engineering. By focusing on high‐value applications, Kaiser Aluminum aims to deliver lightweight, durable solutions that contribute to efficiency and innovation across its customer base.

Operationally, Kaiser Aluminum maintains a network of smelters, extrusion plants, and rolling mills located primarily in North America.

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