Constellium (NYSE:CSTM) Price Target Raised to $30.00 at JPMorgan Chase & Co.

Constellium (NYSE:CSTM) had its price target increased by JPMorgan Chase & Co. from $29.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

CSTM has been the topic of several other reports. BMO Capital Markets set a $32.00 target price on Constellium and gave the stock an “outperform” rating in a report on Thursday, April 9th. Zacks Research cut Constellium from a “strong-buy” rating to a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $29.00 target price on shares of Constellium in a report on Thursday, April 9th. Wells Fargo & Company boosted their target price on Constellium from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Constellium in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Constellium Trading Up 0.0%

Shares of CSTM opened at $29.66 on Thursday. Constellium has a 52-week low of $8.24 and a 52-week high of $31.20. The company has a quick ratio of 0.51, a current ratio of 1.29 and a debt-to-equity ratio of 1.96. The firm’s fifty day moving average is $25.75 and its two-hundred day moving average is $20.75. The stock has a market cap of $4.04 billion, a PE ratio of 15.37 and a beta of 1.43.

Constellium (NYSE:CSTM) last announced its earnings results on Saturday, February 14th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.44. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Constellium had a net margin of 3.23% and a return on equity of 32.14%. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.34) EPS. Research analysts forecast that Constellium will post 1.1 earnings per share for the current fiscal year.

Constellium declared that its board has authorized a stock repurchase plan on Thursday, March 12th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Constellium news, CFO Jack Q. Guo sold 41,717 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $25.87, for a total value of $1,079,218.79. Following the transaction, the chief financial officer directly owned 190,879 shares in the company, valued at $4,938,039.73. The trade was a 17.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Marcus Becker sold 15,570 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $25.58, for a total transaction of $398,280.60. The SEC filing for this sale provides additional information. Insiders sold a total of 214,543 shares of company stock worth $5,565,129 over the last ninety days. 1.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Constellium

A number of institutional investors and hedge funds have recently made changes to their positions in CSTM. Millennium Management LLC raised its stake in shares of Constellium by 35.4% in the 3rd quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock valued at $103,204,000 after acquiring an additional 1,813,400 shares during the period. Morgan Stanley raised its stake in shares of Constellium by 48.4% in the 4th quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock valued at $70,275,000 after acquiring an additional 1,216,516 shares during the period. Scopus Asset Management L.P. purchased a new stake in shares of Constellium in the 2nd quarter valued at approximately $14,054,000. Vanguard Group Inc. raised its stake in shares of Constellium by 39.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,299,064 shares of the industrial products company’s stock valued at $49,090,000 after acquiring an additional 938,155 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Constellium in the 2nd quarter valued at approximately $9,498,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

About Constellium

Constellium SE is a global leader in the design and manufacture of high-performance aluminum products and solutions. The company serves key markets including aerospace, automotive, and packaging, offering advanced rolled and extruded aluminum sheet, plate and structural components. Its product portfolio encompasses precision-engineered parts for commercial and military aircraft, automotive body structures and closures, beverage and specialty packaging, as well as industrial and structural applications.

Established in 2011 through the consolidation of Rio Tinto Alcan’s rolled-products and engineered-products businesses, Constellium has built a reputation for innovation in lightweighting and sustainability.