Huntington Ingalls Industries (NYSE:HII) Price Target Cut to $304.00 by Analysts at Sanford C. Bernstein

Huntington Ingalls Industries (NYSE:HII) had its price target reduced by research analysts at Sanford C. Bernstein from $327.00 to $304.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the aerospace company’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 16.07% from the stock’s current price.

Several other equities analysts have also recently weighed in on HII. Weiss Ratings upgraded shares of Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 31st. 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 report on Friday, July 31st. Wells Fargo & Company increased their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. TD Cowen decreased their target price on Huntington Ingalls Industries from $360.00 to $340.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Finally, Citigroup raised their target price on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Huntington Ingalls Industries presently has a consensus rating of “Moderate Buy” and an average target price of $361.75.

Huntington Ingalls Industries Trading Up 1.6%

Shares of HII stock traded up $4.06 during trading hours on Wednesday, reaching $261.90. 70,149 shares of the stock traded hands, compared to its average volume of 524,829. Huntington Ingalls Industries has a 1-year low of $255.35 and a 1-year high of $460.00. The business has a fifty day moving average price of $287.83 and a 200 day moving average price of $310.83. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $10.32 billion, a PE ratio of 15.62, a PEG ratio of 0.99 and a beta of 0.21.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, beating the consensus estimate of $3.79 by $1.48. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $3.86 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that Huntington Ingalls Industries will post 18.47 EPS for the current year.

Insider Activity at Huntington Ingalls Industries

In related news, CEO Christopher Kastner sold 13,070 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the transaction, the chief executive officer directly owned 11,224 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Huntington Ingalls Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RFG Bristol Wealth Advisors LLC lifted its position in Huntington Ingalls Industries by 27.4% in the 3rd quarter. RFG Bristol Wealth Advisors LLC now owns 1,781 shares of the aerospace company’s stock worth $476,000 after buying an additional 383 shares in the last quarter. Insight Wealth Strategies LLC grew its holdings in shares of Huntington Ingalls Industries by 2.2% during the 3rd quarter. Insight Wealth Strategies LLC now owns 22,969 shares of the aerospace company’s stock valued at $6,134,000 after acquiring an additional 485 shares in the last quarter. O Keefe Stevens Advisory Inc. grew its holdings in shares of Huntington Ingalls Industries by 13.1% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 7,465 shares of the aerospace company’s stock valued at $1,994,000 after acquiring an additional 862 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Huntington Ingalls Industries by 15.3% in the third quarter. GAMMA Investing LLC now owns 3,523 shares of the aerospace company’s stock worth $941,000 after acquiring an additional 467 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Huntington Ingalls Industries by 16.6% in the third quarter. Farther Finance Advisors LLC now owns 1,428 shares of the aerospace company’s stock worth $381,000 after acquiring an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc (NYSE:HII) is a U.S. defense company that designs, builds, maintains and modernizes military ships and provides technology services to government and defense customers. Its principal customers include the U.S. Navy, Marine Corps, Coast Guard, intelligence agencies and other federal organizations.

Through Newport News Shipbuilding, HII builds and services nuclear-powered aircraft carriers and supports the construction and maintenance of nuclear-powered submarines.