Wall Street Zen Downgrades Kaiser Aluminum (NASDAQ:KALU) to Hold

Key Points

• Wall Street Zen has downgraded Kaiser Aluminum from a "buy" rating to a "hold" rating, reflecting a shift in market sentiment.
• JPMorgan Chase & Co. has raised its target price for Kaiser Aluminum from $64.00 to $82.00, while maintaining a "neutral" stock rating.
• Kaiser Aluminum reported an EPS of $1.21 for the quarter, exceeding expectations and indicating a strong performance with revenue of $823.10 million.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Monday.

Separately, JPMorgan Chase & Co. raised their target price on Kaiser Aluminum from $64.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $78.00.

Kaiser Aluminum Stock Up 5.0%

Shares of NASDAQ KALU opened at $79.57 on Monday. Kaiser Aluminum has a 52 week low of $46.81 and a 52 week high of $97.00. The business has a 50-day simple moving average of $80.51 and a two-hundred day simple moving average of $71.75. The company has a quick ratio of 1.30, a current ratio of 2.70 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.29 billion, a P/E ratio of 20.46 and a beta of 1.51.

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

Institutional Trading of Kaiser Aluminum

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in shares of Kaiser Aluminum by 31.9% in the 2nd quarter. State Street Corp now owns 1,154,415 shares of the industrial products company's stock valued at $92,238,000 after acquiring an additional 279,231 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kaiser Aluminum by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 790,046 shares of the industrial products company's stock valued at $55,517,000 after buying an additional 14,296 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Kaiser Aluminum by 7.4% during the 2nd quarter. American Century Companies Inc. now owns 536,208 shares of the industrial products company's stock valued at $42,843,000 after buying an additional 36,894 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Kaiser Aluminum by 5.1% during the 1st quarter. Wellington Management Group LLP now owns 454,114 shares of the industrial products company's stock valued at $27,528,000 after buying an additional 22,134 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Kaiser Aluminum by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 391,601 shares of the industrial products company's stock valued at $31,292,000 after buying an additional 5,420 shares in 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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