Zacks Research Upgrades Century Aluminum (NASDAQ:CENX) to “Hold”

Century Aluminum (NASDAQ:CENX) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

Several other equities research analysts have also commented on CENX. B. Riley Financial reiterated a “buy” rating on shares of Century Aluminum in a research report on Tuesday, August 18th. Wells Fargo & Company lowered their price objective on shares of Century Aluminum from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. Wall Street Zen downgraded shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 20th. UBS Group dropped their target price on shares of Century Aluminum from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Century Aluminum in a research report on Monday. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Century Aluminum has a consensus rating of “Moderate Buy” and an average target price of $64.60.

Century Aluminum Stock Down 2.5%

CENX opened at $33.50 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.61 and a current ratio of 2.75. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 5.79 and a beta of 2.07. Century Aluminum has a one year low of $25.40 and a one year high of $70.43. The business’s fifty day moving average is $41.06 and its two-hundred day moving average is $50.31.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.13. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%. The business had revenue of $752.10 million during the quarter, compared to analysts’ expectations of $817.15 million. The business’s quarterly revenue was up 59.0% on a year-over-year basis. Analysts anticipate that Century Aluminum will post 7.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Century Aluminum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new position in Century Aluminum during the first quarter worth $29,000. Summit Securities Group LLC purchased a new position in Century Aluminum during the first quarter worth $42,000. Strs Ohio acquired a new position in shares of Century Aluminum in the first quarter worth $47,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Century Aluminum in the second quarter worth $37,000. Finally, Leonteq Securities AG acquired a new position in shares of Century Aluminum in the first quarter worth $67,000. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Century Aluminum Company Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, aerospace, and other industrial applications.

Century Aluminum’s operations are located in the United States and Iceland. Its U.S. facilities include the Sebree smelter in Kentucky and the Mt. Holly smelter in South Carolina, while its Icelandic operations are based at the Grundartangi aluminum smelter.