Wells Fargo & Company Forecasts Strong Price Appreciation for Kaiser Aluminum (NASDAQ:KALU) Stock

Key Points

• Wells Fargo & Company has raised the target price for Kaiser Aluminum (NASDAQ:KALU) from $90.00 to $108.00, indicating a potential upside of 12.58% from its previous close.
• Several analysts have differing ratings on Kaiser Aluminum, with two rating it as a Buy, four as a Hold, and an average target price of $88.00.
• Kaiser Aluminum's stock increased by 3.0% during midday trading, reaching $95.94, and the company has a market capitalization of $1.55 billion.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) had its target price raised by research analysts at Wells Fargo & Company from $90.00 to $108.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price target points to a potential upside of 12.58% from the company's previous close.

Several other equities analysts have also recently issued reports on KALU. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kaiser Aluminum in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted 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. Wall Street Zen raised Kaiser Aluminum from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Finally, Zacks Research lowered Kaiser Aluminum from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Kaiser Aluminum presently has an average rating of "Hold" and an average target price of $88.00.

Kaiser Aluminum Stock Up 3.0%

NASDAQ:KALU traded up $2.82 during midday trading on Friday, reaching $95.94. The company had a trading volume of 84,302 shares, compared to its average volume of 131,731. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 17.35 and a beta of 1.49. The stock's fifty day simple moving average is $77.65 and its 200-day simple moving average is $74.86. Kaiser Aluminum has a 12-month low of $46.81 and a 12-month high of $97.60. The company has a current ratio of 2.70, a quick ratio of 1.30 and a debt-to-equity ratio of 1.39.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last announced its quarterly earnings results on Wednesday, April 2nd. The industrial products company reported $1.21 earnings per share (EPS) for the quarter. Kaiser Aluminum had a return on equity of 10.93% and a net margin of 2.85%.The company had revenue of $765.40 million during the quarter. On average, sell-side analysts anticipate that Kaiser Aluminum will post 5.14 earnings per share for the current fiscal year.

Institutional Trading of Kaiser Aluminum

Several large investors have recently added to or reduced their stakes in the stock. Tributary Capital Management LLC increased its holdings in Kaiser Aluminum by 92.5% in the 3rd quarter. Tributary Capital Management LLC now owns 500,418 shares of the industrial products company's stock valued at $38,612,000 after purchasing an additional 240,518 shares in the last quarter. SG Americas Securities LLC purchased a new position in Kaiser Aluminum in the 3rd quarter valued at about $350,000. Ethic Inc. purchased a new position in Kaiser Aluminum in the 3rd quarter valued at about $233,000. Deprince Race & Zollo Inc. purchased a new position in Kaiser Aluminum in the 3rd quarter valued at about $2,464,000. Finally, Heritage Family Offices LLP purchased a new position in Kaiser Aluminum in the 3rd quarter valued at about $274,000. 99.29% of the stock is currently owned by institutional investors and hedge funds.

About Kaiser Aluminum

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.