Kaiser Aluminum stock downgraded to "Sell"

Kaiser Aluminum Corp.was downgraded by a leading investment research firm from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, December 29.

According to the investment firm “KAISER ALUMINUM is a leading producer of fabricated aluminum products for aerospace and high strength, general engineering, automotive, and custom industrial applications. Repeatedly acknowledged as Best in Class among its global customer base,Their 11 fabrication plants typically produce and ship more than 500 million pounds of product annually. “

A hedge fund recently raised its stake in Kaiser Aluminum Corp. stock. Eagle Asset Management boosted its stake in shares of Kaiser Aluminum Corp. by 99.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 350,154 shares of the company’s stock after buying an additional 174,193 shares during the period. Eagle Asset Management owned about 1.97% of Kaiser Aluminum Corp. worth $28,098,000 at the end of the most recent reporting period.

Shares of Kaiser Aluminum Corp. opened at 85.44 on Tuesday. The stock has a 50 day moving average of $84.05 and a 200-day moving average of $83.42. Kaiser Aluminum Corp. has a one year low of $68.42 and a one year high of $88.92. The company’s market capitalization is $1.49 billion.

Kaiser Aluminum Corp. last released its earnings results on Wednesday, October 21st. The company reported $1.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The company had revenue of $336 million for the quarter, compared to the consensus estimate of $354.70 million. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. On average, equities analysts expect that Kaiser Aluminum Corp. will post $4.45 earnings per share for the current year.

Other equities research analysts have also issued reports about the stock. Deutsche Bank began coverage on shares of Kaiser Aluminum Corp. in a report on Monday, October 12th. They set a “hold” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Kaiser Aluminum Corp. to $82.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $87.00.