Howmet Aerospace (NYSE:HWM) Earns “Buy” Rating from Truist Financial

Howmet Aerospace (NYSE:HWM)‘s stock had its “buy” rating reiterated by research analysts at Truist Financial in a note issued to investors on Friday,Benzinga reports. They currently have a $140.00 price target on the stock, up from their prior price target of $130.00. Truist Financial’s price objective would indicate a potential upside of 4.74% from the company’s current price.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday. KeyCorp downgraded shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Robert W. Baird boosted their price objective on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus price target of $117.76.

Howmet Aerospace Stock Up 4.4 %

Howmet Aerospace stock opened at $133.66 on Friday. The firm has a market capitalization of $54.30 billion, a PE ratio of 51.02, a P/E/G ratio of 1.45 and a beta of 1.50. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.24 and a quick ratio of 0.98. The company’s 50-day moving average is $119.05 and its 200-day moving average is $108.19. Howmet Aerospace has a fifty-two week low of $62.70 and a fifty-two week high of $133.92.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Howmet Aerospace had a net margin of 14.81% and a return on equity of 24.50%. Sell-side analysts anticipate that Howmet Aerospace will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On Howmet Aerospace

A number of institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV increased its position in Howmet Aerospace by 25.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,953 shares of the company’s stock worth $1,745,000 after purchasing an additional 3,216 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in Howmet Aerospace by 350.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 12,977 shares of the company’s stock worth $1,430,000 after purchasing an additional 10,097 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Howmet Aerospace by 1,010.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 321,921 shares of the company’s stock worth $35,208,000 after purchasing an additional 292,921 shares in the last quarter. Freestone Grove Partners LP acquired a new position in Howmet Aerospace during the 4th quarter worth approximately $48,847,000. Finally, Comerica Bank increased its position in Howmet Aerospace by 6.5% during the 4th quarter. Comerica Bank now owns 70,603 shares of the company’s stock worth $7,722,000 after purchasing an additional 4,304 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

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.