Zacks Research Downgrades Century Aluminum (NASDAQ:CENX) to Strong Sell

Century Aluminum (NASDAQ:CENX) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. B. Riley upped their price target on Century Aluminum from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, October 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Century Aluminum in a research note on Friday, August 8th. Wall Street Zen cut Century Aluminum from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Wells Fargo & Company cut their price target on Century Aluminum from $37.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Century Aluminum currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Century Aluminum Stock Up 14.0%

CENX traded up $4.07 on Wednesday, reaching $33.05. 4,051,005 shares of the company traded hands, compared to its average volume of 1,763,725. The stock’s 50 day moving average price is $27.92 and its 200-day moving average price is $22.16. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 28.49 and a beta of 2.51. Century Aluminum has a 52-week low of $13.05 and a 52-week high of $34.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.75 and a quick ratio of 0.61.

Century Aluminum (NASDAQ:CENX) last issued its earnings results on Thursday, November 6th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.23). Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%.The firm had revenue of $632.20 million during the quarter, compared to analyst estimates of $629.85 million. During the same period in the previous year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts expect that Century Aluminum will post 2.76 EPS for the current fiscal year.

Insider Activity at Century Aluminum

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of Century Aluminum stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total value of $279,868.29. Following the completion of the transaction, the senior vice president owned 62,589 shares in the company, valued at approximately $1,456,446.03. The trade was a 16.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Agust F. Hafberg sold 9,493 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $27.91, for a total value of $264,949.63. Following the completion of the sale, the senior vice president owned 55,260 shares of the company’s stock, valued at approximately $1,542,306.60. This trade represents a 14.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Century Aluminum

Several large investors have recently bought and sold shares of the business. CWM LLC boosted its position in shares of Century Aluminum by 26.3% in the 3rd quarter. CWM LLC now owns 1,592 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 332 shares during the last quarter. Arizona State Retirement System lifted its stake in Century Aluminum by 2.5% in the third quarter. Arizona State Retirement System now owns 16,562 shares of the industrial products company’s stock valued at $486,000 after buying an additional 411 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Century Aluminum by 12.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company’s stock worth $80,000 after buying an additional 506 shares during the last quarter. Sei Investments Co. grew its position in shares of Century Aluminum by 2.5% during the 2nd quarter. Sei Investments Co. now owns 20,926 shares of the industrial products company’s stock worth $377,000 after buying an additional 509 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Century Aluminum by 3.7% in the 3rd quarter. Amalgamated Bank now owns 15,376 shares of the industrial products company’s stock valued at $451,000 after acquiring an additional 548 shares during the last quarter. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.