Huntington Ingalls Industries (NYSE:HII) Price Target Cut to $349.00 by Analysts at Citigroup

Huntington Ingalls Industries (NYSE:HII) had its price target cut by stock analysts at Citigroup from $405.00 to $349.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Citigroup’s target price would suggest a potential upside of 23.76% from the company’s previous close.

A number of other brokerages have also weighed in on HII. Wall Street Zen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. TD Cowen decreased their target price on shares of Huntington Ingalls Industries from $460.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Wells Fargo & Company assumed coverage on shares of Huntington Ingalls Industries in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 price target for the company. Finally, Weiss Ratings lowered shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Huntington Ingalls Industries presently has an average rating of “Hold” and a consensus price target of $381.50.

Huntington Ingalls Industries Stock Up 0.8%

Shares of NYSE HII traded up $2.10 during trading on Wednesday, hitting $282.00. The stock had a trading volume of 84,043 shares, compared to its average volume of 547,147. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 1.11. The firm has a fifty day moving average of $316.12 and a two-hundred day moving average of $369.01. Huntington Ingalls Industries has a 12 month low of $242.62 and a 12 month high of $460.00. The company has a market capitalization of $11.11 billion, a PE ratio of 18.35, a PEG ratio of 1.17 and a beta of 0.23.

Huntington Ingalls Industries (NYSE:HII) last released its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.09. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the previous year, the company earned $3.79 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts forecast that Huntington Ingalls Industries will post 17.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the sale, the vice president directly owned 8,391 shares of the company’s stock, valued at approximately $2,681,595.78. The trade was a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.80% of the stock is currently owned by company insiders.

Institutional Trading of Huntington Ingalls Industries

A number of institutional investors and hedge funds have recently bought and sold shares of HII. Empowered Funds LLC increased its position in shares of Huntington Ingalls Industries by 318.6% during the first quarter. Empowered Funds LLC now owns 19,733 shares of the aerospace company’s stock valued at $7,497,000 after acquiring an additional 15,019 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Huntington Ingalls Industries during the first quarter valued at $1,520,000. Parallel Advisors LLC boosted its position in shares of Huntington Ingalls Industries by 27.5% during the first quarter. Parallel Advisors LLC now owns 724 shares of the aerospace company’s stock valued at $275,000 after buying an additional 156 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Huntington Ingalls Industries by 1.8% during the first quarter. NewEdge Advisors LLC now owns 12,133 shares of the aerospace company’s stock valued at $4,609,000 after purchasing an additional 214 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new stake in Huntington Ingalls Industries in the first quarter worth approximately $76,000. 90.46% of the stock is currently owned by institutional investors.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.