Howmet Aerospace (NYSE:HWM) Price Target Cut to $280.00 by Analysts at BTIG Research

Howmet Aerospace (NYSE:HWM) had its target price dropped by stock analysts at BTIG Research from $340.00 to $280.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research‘s price objective would indicate a potential upside of 40.40% from the stock’s previous close.

HWM has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price target on Howmet Aerospace from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Wells Fargo & Company lowered their price objective on shares of Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 30th. TD Cowen cut their target price on shares of Howmet Aerospace from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, October 9th. UBS Group decreased their price target on shares of Howmet Aerospace from $255.00 to $230.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group restated a “buy” rating and set a $350.00 price objective on shares of Howmet Aerospace in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.95.

Howmet Aerospace Price Performance

NYSE HWM opened at $199.43 on Monday. Howmet Aerospace has a fifty-two week low of $183.52 and a fifty-two week high of $310.00. The stock’s 50-day moving average is $229.00 and its two-hundred day moving average is $248.49. The firm has a market cap of $79.31 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 1.75 and a beta of 1.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.86 and a quick ratio of 0.90.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, October 29th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.09. Howmet Aerospace had a return on equity of 36.44% and a net margin of 21.10%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same period in the previous year, the company earned $0.95 EPS. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, analysts anticipate that Howmet Aerospace will post 5.45 earnings per share for the current fiscal year.

Institutional Trading of Howmet Aerospace

Several large investors have recently made changes to their positions in HWM. Man Group plc acquired a new position in Howmet Aerospace during the 2nd quarter valued at about $104,566,000. Assenagon Asset Management S.A. raised its position in Howmet Aerospace by 128.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 748,791 shares of the company’s stock valued at $169,362,000 after buying an additional 421,300 shares during the last quarter. State Street Corp grew its position in Howmet Aerospace by 3.3% in the second quarter. State Street Corp now owns 18,933,928 shares of the company’s stock valued at $5,090,576,000 after purchasing an additional 612,866 shares in the last quarter. HighTower Advisors LLC grew its stake in Howmet Aerospace by 14.9% in the second quarter. HighTower Advisors LLC now owns 68,260 shares of the company’s stock valued at $18,352,000 after purchasing an additional 8,829 shares in the last quarter. Finally, Moore Capital Management LP bought a new stake in Howmet Aerospace during the second quarter worth $6,178,000. Institutional investors own 90.46% of the company’s stock.

About Howmet Aerospace

Howmet Aerospace Inc (NYSE:HWM) is a global manufacturer of advanced engineered products and materials primarily serving the aerospace, defense, commercial transportation and industrial markets. The company develops components designed to operate in demanding environments where strength, durability and weight reduction are important.

Howmet’s product portfolio includes aircraft engine components, airframe structures, titanium and nickel-based forgings, fastening systems and wheels for commercial vehicles.