Kaiser Aluminum Corp. (KALU) is Downgraded by BofA/Merrill to Neutral

Kaiser Aluminum Corp. (KALU) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 20, 2016.

Many Wall Street Analysts have commented on Kaiser Aluminum Corp.. Kaiser Aluminum Corp. was Initiated by Goldman to “Sell” on May 19, 2016. Company shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $90 .Company shares were Reiterated by Cowen on Apr 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 90 from a previous price target of $86 .

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. closed down -0.01 points or -0.01% at $93.65 with 1,05,808 shares getting traded on Monday. Post opening the session at $93.6, the shares hit an intraday low of $92.36 and an intraday high of $94.455 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 6, 2016, Daniel J Rinkenberger (EVP & CFO) sold 803 shares at $90.05 per share price. According to the SEC, on May 6, 2016, John Malcolm Donnan (EVP – Legal, Compliance & HR) sold 5,915 shares at $89.93 per share price. On May 6, 2016, Melinda C Ellsworth (VP IR & Corp. Communications) sold 1,100 shares at $91.33 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.

Kaiser Aluminum Corp.

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Kaiser Aluminum Corp. - Is it time to Sell?

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