Citigroup Forecasts Strong Price Appreciation for Huntington Ingalls Industries (NYSE:HII) Stock

Huntington Ingalls Industries (NYSE:HII) had its target price raised by investment analysts at Citigroup from $376.00 to $450.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price target indicates a potential upside of 9.04% from the company’s current price.

A number of other brokerages have also recently commented on HII. Wall Street Zen cut Huntington Ingalls Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. upped their price objective on shares of Huntington Ingalls Industries from $287.00 to $342.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. TD Cowen lifted their target price on Huntington Ingalls Industries from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Melius upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group lifted their price objective on Huntington Ingalls Industries from $316.00 to $356.00 and gave the company a “buy” rating in a report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $335.00.

Huntington Ingalls Industries Stock Up 3.6%

HII traded up $14.43 on Tuesday, reaching $412.68. 657,285 shares of the company traded hands, compared to its average volume of 599,252. The stock’s 50 day moving average price is $329.28 and its 200-day moving average price is $292.47. Huntington Ingalls Industries has a 52-week low of $158.88 and a 52-week high of $414.57. The company has a market cap of $16.19 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 1.57 and a beta of 0.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.14 and a quick ratio of 1.06.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings results on Thursday, October 30th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.29 by $0.39. Huntington Ingalls Industries had a return on equity of 11.79% and a net margin of 4.74%.The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $2.56 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts expect that Huntington Ingalls Industries will post 13.99 EPS for the current fiscal year.

Insider Activity at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 850 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $315.44, for a total transaction of $268,124.00. Following the transaction, the vice president owned 8,731 shares in the company, valued at $2,754,106.64. This trade represents a 8.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher D. Kastner sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $321.06, for a total value of $4,815,900.00. Following the completion of the transaction, the chief executive officer directly owned 68,139 shares of the company’s stock, valued at approximately $21,876,707.34. This trade represents a 18.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 17,103 shares of company stock valued at $5,477,768. 0.86% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Huntington Ingalls Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CYBER HORNET ETFs LLC bought a new position in Huntington Ingalls Industries during the second quarter valued at $25,000. Rakuten Securities Inc. lifted its holdings in shares of Huntington Ingalls Industries by 140.0% during the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 63 shares during the last quarter. SouthState Corp boosted its holdings in shares of Huntington Ingalls Industries by 310.0% in the 2nd quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 93 shares in the last quarter. Anchor Investment Management LLC grew its position in Huntington Ingalls Industries by 400.0% during the second quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Huntington Ingalls Industries by 120.0% in the 3rd quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 60 shares during the period. 90.46% of the stock is 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.