Kaiser Aluminum (NASDAQ:KALU) Now Covered by Barclays

Equities researchers at Barclays started coverage on shares of Kaiser Aluminum (NASDAQ:KALU) in a research note issued on Wednesday, MarketBeat reports. The brokerage set an “overweight” rating and a $180.00 price target on the industrial products company’s stock. Barclays‘s price target would indicate a potential upside of 24.09% from the company’s current price.

Other analysts have also issued research reports about the stock. KeyCorp cut their price objective on shares of Kaiser Aluminum from $183.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. UBS Group upgraded shares of Kaiser Aluminum from a “neutral” rating to a “buy” rating and lifted their price target for the company from $179.00 to $184.00 in a research note on Monday, August 31st. Wall Street Zen raised shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 2nd. Weiss Ratings cut shares of Kaiser Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 2nd. Finally, Zacks Research downgraded shares of Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.40.

Kaiser Aluminum Stock Down 2.1%

Kaiser Aluminum stock traded down $3.11 during midday trading on Wednesday, reaching $145.06. The stock had a trading volume of 4,371 shares, compared to its average volume of 243,339. The stock has a market capitalization of $2.37 billion, a P/E ratio of 10.75 and a beta of 1.59. The firm’s fifty day simple moving average is $159.64 and its 200-day simple moving average is $164.36. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.17 and a current ratio of 2.50. Kaiser Aluminum has a 1-year low of $77.24 and a 1-year high of $199.89.

Kaiser Aluminum (NASDAQ:KALU) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $5.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $2.87. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.12 billion. Kaiser Aluminum had a return on equity of 24.71% and a net margin of 5.49%. The business’s revenue was up 52.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 EPS. As a group, analysts expect that Kaiser Aluminum will post 13.40 EPS for the current fiscal year.

Hedge Funds Weigh In On Kaiser Aluminum

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Kaiser Aluminum by 18.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,063 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 166 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Kaiser Aluminum by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 400 shares of the industrial products company’s stock valued at $58,000 after buying an additional 98 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Kaiser Aluminum by 11.4% in the second quarter. QRG Capital Management Inc. now owns 3,005 shares of the industrial products company’s stock valued at $588,000 after buying an additional 308 shares during the period. Tidal Investments LLC bought a new stake in shares of Kaiser Aluminum in the second quarter valued at approximately $1,355,000. Finally, Engineers Gate Manager LP grew its position in Kaiser Aluminum by 33.5% during the second quarter. Engineers Gate Manager LP now owns 10,333 shares of the industrial products company’s stock worth $2,021,000 after buying an additional 2,593 shares in the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

About Kaiser Aluminum

Kaiser Aluminum Corporation is a manufacturer of semi-fabricated aluminum products serving customers in the aerospace, automotive, industrial, packaging, and other end markets. The company produces engineered aluminum products designed for applications that require characteristics such as strength, light weight, corrosion resistance, and thermal conductivity.

Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other specialty products.