Huntington Ingalls Industries (NYSE:HII) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Huntington Ingalls Industries (NYSE:HII) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $370.00 to $375.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 18.73% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Wolfe Research upgraded Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 target price for the company in a research report on Friday, July 31st. Wall Street Zen upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup boosted their price objective on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Weiss Ratings raised Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 31st. Finally, Wells Fargo & Company raised their target price on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $369.50.

Huntington Ingalls Industries Price Performance

NYSE:HII traded up $2.14 during trading hours on Tuesday, hitting $315.84. The stock had a trading volume of 114,725 shares, compared to its average volume of 532,244. The company has a 50 day simple moving average of $278.31 and a two-hundred day simple moving average of $335.62. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.04 and a beta of 0.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.23 and a quick ratio of 1.14. Huntington Ingalls Industries has a one year low of $255.35 and a one year high of $460.00.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, October 29th. The aerospace company reported $5.48 earnings per share for the quarter, topping the consensus estimate of $4.36 by $1.12. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the firm posted $3.68 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts forecast that Huntington Ingalls Industries will post 18.60 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, CEO Christopher Kastner sold 13,070 shares of Huntington Ingalls Industries stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the completion of the sale, the chief executive officer owned 11,224 shares of the company’s stock, valued at $3,646,902.08. The trade was a 53.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Ingalls Industries

Large investors have recently modified their holdings of the company. Cassaday & Co Wealth Management LLC purchased a new stake in Huntington Ingalls Industries in the first quarter worth approximately $36,000. Eastern Bank purchased a new position in shares of Huntington Ingalls Industries during the third quarter worth approximately $26,000. Provenance Wealth Advisors LLC raised its stake in shares of Huntington Ingalls Industries by 6,250.0% during the third quarter. Provenance Wealth Advisors LLC now owns 127 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 125 shares in the last quarter. Bogart Wealth LLC lifted its holdings in shares of Huntington Ingalls Industries by 1,775.0% in the 1st quarter. Bogart Wealth LLC now owns 150 shares of the aerospace company’s stock worth $57,000 after acquiring an additional 142 shares during the last quarter. Finally, Latitude Advisors LLC bought a new stake in shares of Huntington Ingalls Industries in the 3rd quarter worth approximately $42,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc (NYSE:HII) is an American defense company that designs, builds, maintains and modernizes ships for the U.S. Navy and other government customers. Its shipbuilding activities include nuclear-powered aircraft carriers, submarines, amphibious assault ships, destroyers and other surface vessels, along with fleet sustainment and modernization services.

HII operates through its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Newport News Shipbuilding is involved in the construction and maintenance of nuclear-powered aircraft carriers and submarines, while Ingalls Shipbuilding builds surface combatants and amphibious ships.