Century Aluminum (NASDAQ:CENX) Cut to Hold at Zacks Research

Zacks Research cut shares of Century Aluminum (NASDAQ:CENX) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Wall Street Zen raised Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Wells Fargo & Company boosted their price target on Century Aluminum from $61.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. B. Riley Financial boosted their price target on Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Century Aluminum Price Performance

Shares of CENX opened at $65.57 on Monday. Century Aluminum has a 52-week low of $13.05 and a 52-week high of $67.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.97. The business’s 50 day moving average price is $53.17 and its two-hundred day moving average price is $40.82. The firm has a market cap of $6.49 billion, a PE ratio of 163.93 and a beta of 1.99.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The firm had revenue of $633.70 million for the quarter, compared to analyst estimates of $661.63 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The company’s revenue was up .4% compared to the same quarter last year. On average, equities analysts anticipate that Century Aluminum will post 2.76 EPS for the current year.

Insider Buying and Selling at Century Aluminum

In other Century Aluminum news, SVP Matt Aboud sold 2,971 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.67, for a total transaction of $156,482.57. Following the completion of the sale, the senior vice president owned 64,843 shares in the company, valued at approximately $3,415,280.81. The trade was a 4.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Dezee sold 66,000 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the sale, the executive vice president owned 97,647 shares of the company’s stock, valued at $4,952,655.84. This trade represents a 40.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 401,626 shares of company stock worth $20,847,911. Company insiders own 0.76% of the company’s stock.

Institutional Trading of Century Aluminum

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Century Aluminum during the 4th quarter valued at $1,121,000. Beartown Capital Management LLC bought a new stake in Century Aluminum during the 4th quarter valued at $1,959,000. Summit Global Investments bought a new stake in Century Aluminum during the 4th quarter valued at $299,000. State of Tennessee Department of Treasury increased its stake in Century Aluminum by 48.7% during the 4th quarter. State of Tennessee Department of Treasury now owns 18,772 shares of the industrial products company’s stock valued at $735,000 after purchasing an additional 6,152 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in Century Aluminum during the fourth quarter worth $227,000. Institutional investors own 61.59% of the company’s stock.

About Century Aluminum

Century Aluminum Company is a primary aluminum producer that develops and operates smelters designed to supply low-carbon, high-purity aluminum products to a range of industrial and commercial markets. Established in 1995, the company has grown to become a significant North American aluminum producer with an expanding international footprint. Century Aluminum is headquartered in the United States and is focused on energy-efficient operations and cost management.

The company’s core operations include three primary aluminum smelting facilities located in Hawesville, Kentucky; Mount Holly, South Carolina; and Grundartangi, Iceland.