Kaiser Aluminum Corp. (KALU) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 90 from a previous price target of $86 . Cowen advised their investors in a research report released on Apr 22, 2016.
Many Wall Street Analysts have commented on Kaiser Aluminum Corp.. Kaiser Aluminum Corp. was Initiated by Credit Suisse to “Neutral” on Mar 11, 2016. Company shares were Upgraded by Deutsche Bank on Mar 1, 2016 to ” Buy”, Firm has raised the Price Target to $ 90 from a previous price target of $85 .Shares were Reiterated by Cowen on Feb 18, 2016 to “Outperform” and Lowered the Price Target to $ 86 from a previous price target of $88 .
On the company’s financial health, Kaiser Aluminum Corp. reported $1.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.27. The company had revenue of $343.20 million for the quarter, compared to analysts expectations of $347.15 million. The company’s revenue was down -7.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.01 EPS.
Kaiser Aluminum Corp. opened for trading at $87.54 and hit $88.64 on the upside on Wednesday, eventually ending the session at $88, with a gain of 1.64% or 1.42 points. The heightened volatility saw the trading volume jump to 2,73,050 shares. Company has a market cap of $1,584 M.
In a different news, on Sep 17, 2015, John Malcolm Donnan (EVP – Legal, Compliance & HR) sold 1,500 shares at $81.88 per share price. According to the SEC, on Aug 7, 2015, Jack Quinn (director) sold 1,384 shares at $85.52 per share price. On Aug 5, 2015, Jack A Hockema (President & CEO) sold 5,000 shares at $84.44 per share price, according to the Form-4 filing with the securities and exchange commission.
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures rolled extruded and drawn aluminum products to serve fits end market applications such as aerospace and high strength products (Aero/HS products) extrusions for automotive applications (Automotive Extrusions) general engineering products (GE products) and other industrial products (Other products). The Company operates around 11 production facilities in the United States and one in Canada. Its Fabricated Products segment produces rolled extruded and drawn aluminum products for aerospace and defense automotive consumer durables electronics electrical and machinery and equipment applications. Its Aero/HS products include heat treat plate and sheet as well as cold finish rod and bar seamless drawn tube hard alloy extrusions and billet that are manufactured for the global aerospace and defense industries.