Howmet Aerospace (NYSE:HWM) PT Raised to $88.00 at Wells Fargo & Company

Howmet Aerospace (NYSE:HWM) had its price target increased by research analysts at Wells Fargo & Company from $72.00 to $88.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 10.28% from the company’s previous close.

HWM has been the topic of a number of other reports. Benchmark reaffirmed a “buy” rating and issued a $53.00 price target on shares of Howmet Aerospace in a research note on Friday, April 19th. Truist Financial raised their price objective on Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada lifted their price target on Howmet Aerospace from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group raised their price target on Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday. Finally, Robert W. Baird boosted their price objective on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Howmet Aerospace Stock Up 1.2 %

Howmet Aerospace stock traded up $0.91 during midday trading on Monday, hitting $79.80. 768,126 shares of the stock were exchanged, compared to its average volume of 3,439,437. Howmet Aerospace has a 1 year low of $42.17 and a 1 year high of $80.11. The company has a 50 day moving average price of $66.70 and a two-hundred day moving average price of $58.16. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.92. The firm has a market cap of $32.57 billion, a P/E ratio of 38.61, a P/E/G ratio of 1.89 and a beta of 1.41.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, sell-side analysts predict that Howmet Aerospace will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the transaction, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HWM. Vanguard Group Inc. increased its position in shares of Howmet Aerospace by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after purchasing an additional 1,274,974 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Howmet Aerospace by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 23,507,379 shares of the company’s stock valued at $1,087,216,000 after acquiring an additional 897,463 shares in the last quarter. FMR LLC raised its stake in shares of Howmet Aerospace by 21.2% during the third quarter. FMR LLC now owns 15,086,149 shares of the company’s stock worth $697,734,000 after buying an additional 2,635,894 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Howmet Aerospace by 118.7% during the third quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock worth $612,307,000 after purchasing an additional 7,184,620 shares during the last quarter. Finally, Norges Bank bought a new position in Howmet Aerospace in the 4th quarter valued at about $508,006,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Company Profile

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.