Howmet Aerospace (NYSE:HWM) Price Target Raised to $115.00

Howmet Aerospace (NYSE:HWM) had its price objective upped by research analysts at BTIG Research from $95.00 to $115.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 32.03% from the stock’s previous close.

Several other equities analysts have also recently issued reports on HWM. KeyCorp upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Benchmark upped their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Royal Bank of Canada upped their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Barclays increased their target price on shares of Howmet Aerospace from $65.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.67.

Howmet Aerospace Stock Performance

HWM traded down $3.06 during midday trading on Monday, hitting $87.10. 3,428,930 shares of the company traded hands, compared to its average volume of 3,251,617. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $35.55 billion, a PE ratio of 42.12, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45. The company’s 50-day moving average is $81.98 and its 200 day moving average is $72.28. Howmet Aerospace has a 52 week low of $42.94 and a 52 week high of $97.29.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. On average, research analysts expect that Howmet Aerospace will post 2.6 EPS for the current year.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the completion of the transaction, the executive vice president now directly owns 217,687 shares in the company, valued at approximately $18,342,306.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

Institutional Trading of Howmet Aerospace

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Howmet Aerospace by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after buying an additional 1,274,974 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Howmet Aerospace by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after buying an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Howmet Aerospace by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after buying an additional 3,158,186 shares during the last quarter. Norges Bank bought a new stake in Howmet Aerospace in the fourth quarter worth $508,006,000. Finally, Bank of New York Mellon Corp lifted its position in Howmet Aerospace by 15.1% in the first quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock worth $423,218,000 after buying an additional 810,681 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

About Howmet Aerospace

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.