Howmet Aerospace (NYSE:HWM) Price Target Raised to $77.00

Howmet Aerospace (NYSE:HWM) had its price objective increased by investment analysts at The Goldman Sachs Group from $65.00 to $77.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 20.90% from the stock’s current price.

Other research analysts also recently issued research reports about the company. UBS Group boosted their price target on Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. KeyCorp lifted their price objective on Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Truist Financial raised Howmet Aerospace from a “hold” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $74.00 in a research report on Wednesday, January 10th. Barclays lifted their price objective on Howmet Aerospace from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Finally, Sanford C. Bernstein started coverage on Howmet Aerospace in a research report on Friday, January 5th. They issued an “outperform” rating and a $67.00 price target on the stock. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Howmet Aerospace Price Performance

NYSE HWM traded up $0.20 during trading hours on Tuesday, reaching $63.69. 159,247 shares of the stock traded hands, compared to its average volume of 3,344,162. The stock has a 50 day simple moving average of $65.33 and a two-hundred day simple moving average of $56.07. Howmet Aerospace has a 1 year low of $42.17 and a 1 year high of $69.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87. The company has a market cap of $26.01 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 1.67 and a beta of 1.43.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.47 by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, analysts predict that Howmet Aerospace will post 2.18 EPS for the current fiscal year.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of Howmet Aerospace stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Howmet Aerospace during the fourth quarter worth $508,006,000. JPMorgan Chase & Co. grew its position in Howmet Aerospace by 118.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock valued at $612,307,000 after buying an additional 7,184,620 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Howmet Aerospace by 87.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,972,420 shares of the company’s stock valued at $593,828,000 after buying an additional 5,107,898 shares in the last quarter. FMR LLC grew its position in Howmet Aerospace by 21.2% in the 3rd quarter. FMR LLC now owns 15,086,149 shares of the company’s stock valued at $697,734,000 after buying an additional 2,635,894 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Howmet Aerospace by 5,231.1% during the 1st quarter. Macquarie Group Ltd. now owns 1,575,116 shares of the company’s stock valued at $66,738,000 after purchasing an additional 1,545,570 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other 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.