Truist Financial Reaffirms Buy Rating for Howmet Aerospace (NYSE:HWM)

Howmet Aerospace (NYSE:HWM)‘s stock had its “buy” rating reaffirmed by analysts at Truist Financial in a research note issued to investors on Friday,Benzinga reports. They presently have a $140.00 target price on the stock, up from their previous target price of $130.00. Truist Financial’s price objective indicates a potential upside of 6.32% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada raised their price objective on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group raised their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird lifted their price target 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus target price of $117.76.

Howmet Aerospace Stock Performance

NYSE HWM traded up $3.60 during midday trading on Friday, hitting $131.68. The company had a trading volume of 1,088,173 shares, compared to its average volume of 2,584,762. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. The stock has a market cap of $53.50 billion, a price-to-earnings ratio of 50.31, a P/E/G ratio of 1.45 and a beta of 1.50. The firm has a fifty day simple moving average of $118.75 and a two-hundred day simple moving average of $107.74. Howmet Aerospace has a fifty-two week low of $62.70 and a fifty-two week high of $131.89.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a net margin of 14.81% and a return on equity of 24.50%. Equities analysts forecast that Howmet Aerospace will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Howmet Aerospace

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Howmet Aerospace by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company’s stock worth $5,153,220,000 after acquiring an additional 352,256 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Howmet Aerospace by 14.0% in the 4th quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company’s stock worth $2,209,071,000 after buying an additional 2,486,649 shares during the last quarter. State Street Corp boosted its holdings in shares of Howmet Aerospace by 2.3% in the 3rd quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after buying an additional 384,171 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Howmet Aerospace by 0.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company’s stock worth $1,445,210,000 after buying an additional 80,972 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Howmet Aerospace by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company’s stock worth $1,070,267,000 after buying an additional 308,574 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

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.