JPMorgan Chase & Co. Raises Howmet Aerospace (NYSE:HWM) Price Target to $105.00

Howmet Aerospace (NYSE:HWM) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $83.00 to $105.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.33% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada upped their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on Howmet Aerospace from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company upped their target price on Howmet Aerospace from $72.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Robert W. Baird upped their price target on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Truist Financial upped their price target on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Howmet Aerospace Stock Performance

Shares of NYSE HWM traded up $2.23 during midday trading on Wednesday, hitting $96.04. 1,961,437 shares of the company’s stock were exchanged, compared to its average volume of 3,228,614. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.92. The stock’s 50 day moving average price is $81.38 and its 200-day moving average price is $71.45. The firm has a market cap of $39.20 billion, a P/E ratio of 46.43, a PEG ratio of 1.51 and a beta of 1.45. Howmet Aerospace has a twelve month low of $42.94 and a twelve month high of $96.50.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. Equities research analysts anticipate that Howmet Aerospace will post 2.39 EPS for the current year.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the completion of the sale, the executive vice president now directly owns 217,687 shares in the company, valued at $18,342,306.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HWM. Raymond James Financial Services Advisors Inc. lifted its stake in Howmet Aerospace by 3.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,642 shares of the company’s stock worth $1,767,000 after purchasing an additional 1,075 shares during the period. Blue Trust Inc. raised its stake in shares of Howmet Aerospace by 33.1% in the fourth quarter. Blue Trust Inc. now owns 1,089 shares of the company’s stock valued at $59,000 after acquiring an additional 271 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Howmet Aerospace by 0.5% in the fourth quarter. Arizona State Retirement System now owns 107,627 shares of the company’s stock valued at $5,825,000 after acquiring an additional 511 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Howmet Aerospace by 1.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 155,340 shares of the company’s stock valued at $8,405,000 after acquiring an additional 2,313 shares during the last quarter. Finally, Avitas Wealth Management LLC raised its stake in shares of Howmet Aerospace by 2.9% in the fourth quarter. Avitas Wealth Management LLC now owns 23,965 shares of the company’s stock valued at $1,297,000 after acquiring an additional 667 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

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.