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Dahlman Rose Raises Kaiser Aluminum Corp. to Buy (KALU)
Edited by : AL CIRCLE
2 min read
Kaiser Aluminum Corp. (NASDAQ: KALU) was upgraded by investment analysts at Dahlman Rose from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $70.00 target price on the stock.
The analysts wrote, “Though LME aluminum ingot prices remain depressed, Kaiser has steadily increased profitability by passing through metal costs and focusing on increasing value added revenue per pound. Achieving such increases is possible due to Kaiser’s position in key products and end-markets (such as plate for aerospace and automotive) that have seen firm demand in spite of depressed LME prices.”
Kaiser Aluminum Corp. traded up 0.81% on Monday, hitting $52.57. Kaiser Aluminum Corp. has a 52-week low of $40.12 and a 52-week high of $57.29. The company has a market cap of $1.001 billion and a price-to-earnings ratio of 39.51.
The company last announced its quarterly results on Wednesday, April 25th. It reported $1.09 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.75 EPS by $0.34. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts expect that Kaiser Aluminum Corp. will post $0.88 EPS next quarter.
Separately, analysts at KeyBanc (NYSE: KEY) upgraded shares of Kaiser Aluminum Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday. They now have a $63.00 price target on the stock.
Kaiser Aluminum Corporation (Kaiser) is a semi-fabricated specialty aluminum products manufacturing company.
The analysts wrote, “Though LME aluminum ingot prices remain depressed, Kaiser has steadily increased profitability by passing through metal costs and focusing on increasing value added revenue per pound. Achieving such increases is possible due to Kaiser’s position in key products and end-markets (such as plate for aerospace and automotive) that have seen firm demand in spite of depressed LME prices.”
Kaiser Aluminum Corp. traded up 0.81% on Monday, hitting $52.57. Kaiser Aluminum Corp. has a 52-week low of $40.12 and a 52-week high of $57.29. The company has a market cap of $1.001 billion and a price-to-earnings ratio of 39.51.
The company last announced its quarterly results on Wednesday, April 25th. It reported $1.09 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.75 EPS by $0.34. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts expect that Kaiser Aluminum Corp. will post $0.88 EPS next quarter.
Separately, analysts at KeyBanc (NYSE: KEY) upgraded shares of Kaiser Aluminum Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday. They now have a $63.00 price target on the stock.
Kaiser Aluminum Corporation (Kaiser) is a semi-fabricated specialty aluminum products manufacturing company.
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