Century Aluminum (NASDAQ:CENX) Stock Gets Price Target Reduction from Barclays

Century Aluminum (NASDAQ:CENX) had its price target reduced by Barclays from $40.00 to $39.00 in a research note published on Monday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other brokerages have also commented on CENX. Wells Fargo & Company reduced their price objective on Century Aluminum from $79.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, November 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Century Aluminum in a report on Monday, October 19th. Wall Street Zen downgraded Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 20th. B. Riley Financial dropped their target price on Century Aluminum from $72.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. Finally, Zacks Research raised Century Aluminum from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Century Aluminum currently has an average rating of “Moderate Buy” and an average target price of $60.80.

Century Aluminum Stock Up 0.8%

CENX opened at $36.71 on Monday. The stock has a market cap of $3.63 billion, a PE ratio of 4.30 and a beta of 2.17. The company has a quick ratio of 2.23, a current ratio of 3.45 and a debt-to-equity ratio of 0.26. Century Aluminum has a 52 week low of $25.40 and a 52 week high of $70.43. The business’s fifty day simple moving average is $37.29 and its 200 day simple moving average is $49.23.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Thursday, November 5th. The industrial products company reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Century Aluminum had a net margin of 29.74% and a return on equity of 47.45%. The firm had revenue of $961.20 million for the quarter, compared to analysts’ expectations of $951.71 million. During the same quarter in the previous year, the business earned $0.56 EPS. The company’s revenue for the quarter was up 52.0% on a year-over-year basis. As a group, research analysts expect that Century Aluminum will post 7.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Century Aluminum in the second quarter worth $474,129,000. Fisher Asset Management LLC boosted its position in Century Aluminum by 22.0% during the 3rd quarter. Fisher Asset Management LLC now owns 1,871,612 shares of the industrial products company’s stock valued at $67,341,000 after buying an additional 337,207 shares during the period. Encompass Capital Advisors LLC grew its holdings in Century Aluminum by 210.4% in the 1st quarter. Encompass Capital Advisors LLC now owns 1,551,362 shares of the industrial products company’s stock worth $91,049,000 after acquiring an additional 1,051,525 shares during the last quarter. Boston Partners grew its holdings in Century Aluminum by 47.2% in the 3rd quarter. Boston Partners now owns 1,257,562 shares of the industrial products company’s stock worth $45,253,000 after acquiring an additional 403,467 shares during the last quarter. Finally, Impala Asset Management LLC grew its holdings in Century Aluminum by 13.7% in the 1st quarter. Impala Asset Management LLC now owns 975,000 shares of the industrial products company’s stock worth $57,223,000 after acquiring an additional 117,195 shares during the last quarter. Institutional investors own 61.59% of the company’s stock.

About Century Aluminum

Century Aluminum Company is a global producer of primary aluminum, an essential material used in transportation, construction, packaging, and other industries. Its products include standard-grade and high-purity aluminum, supplied in forms such as ingots and billets for further processing by customers. The company operates aluminum smelting facilities in the United States and Iceland. Its activities also include producing carbon anodes, which are used in the aluminum-smelting process. Century Aluminum was established in 1995 and is headquartered in Chicago, Illinois.