Huntington Ingalls Industries, Inc. (NYSE:HII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, November 10th. The brokerage currently has a $282.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 20.48% from the stock’s current price.
According to Zacks, “Huntington Ingalls’ top-line as well as bottom-line figures in the third quarter of 2017 exceeded the respective Zacks Consensus Estimate. Year-over-year quarterly results also remained impressive. Being the nation’s largest military shipbuilder, Huntington Ingalls continues to boast stable financials and regular cash returns to shareholders. It is the sole designer and manufacturer of nuclear powered aircraft carriers in the United States, with more than 70% of the active U.S. Navy fleet consisting of Huntington Ingalls ships. Its solid capital resources fund operations, which allow the company to consistently generate improved cash flow. It also outperformed the broader industry over a year. However, Huntington Ingalls' limited commercial exposure and high dependence on the government might dent margins amid uncertain U.S. defense spending trends.”
Several other research analysts have also weighed in on HII. Credit Suisse Group reaffirmed a “neutral” rating and set a $241.00 target price (up previously from $211.00) on shares of Huntington Ingalls Industries in a research note on Thursday, November 9th. Citigroup Inc. reaffirmed a “neutral” rating and set a $233.00 target price (up previously from $224.00) on shares of Huntington Ingalls Industries in a research note on Monday, October 9th. Cowen and Company reaffirmed a “hold” rating and set a $225.00 target price on shares of Huntington Ingalls Industries in a research note on Friday, October 6th. ValuEngine raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $222.57.
Huntington Ingalls Industries (HII) traded down $2.57 on Friday, reaching $234.07. 256,200 shares of the company’s stock traded hands, compared to its average volume of 332,497. The company has a current ratio of 1.52, a quick ratio of 1.38 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $10,590.00, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 1.31 and a beta of 1.19. Huntington Ingalls Industries has a fifty-two week low of $174.07 and a fifty-two week high of $253.44.
Huntington Ingalls Industries (NYSE:HII) last issued its earnings results on Wednesday, November 8th. The aerospace company reported $3.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.49. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Huntington Ingalls Industries had a net margin of 8.31% and a return on equity of 33.37%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.27 earnings per share. sell-side analysts expect that Huntington Ingalls Industries will post 12.01 earnings per share for the current fiscal year.
Huntington Ingalls Industries declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
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In related news, VP D R. Wyatt sold 800 shares of Huntington Ingalls Industries stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $240.33, for a total value of $192,264.00. Following the completion of the transaction, the vice president now owns 19,065 shares in the company, valued at $4,581,891.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.22% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Advisor Partners LLC raised its holdings in Huntington Ingalls Industries by 0.3% during the second quarter. Advisor Partners LLC now owns 1,391 shares of the aerospace company’s stock worth $259,000 after purchasing an additional 4 shares in the last quarter. ProVise Management Group LLC increased its holdings in shares of Huntington Ingalls Industries by 1.0% in the 2nd quarter. ProVise Management Group LLC now owns 2,548 shares of the aerospace company’s stock valued at $474,000 after acquiring an additional 26 shares during the period. Somerset Trust Co increased its holdings in shares of Huntington Ingalls Industries by 1.0% in the 2nd quarter. Somerset Trust Co now owns 2,833 shares of the aerospace company’s stock valued at $528,000 after acquiring an additional 27 shares during the period. Toronto Dominion Bank increased its holdings in shares of Huntington Ingalls Industries by 6.8% in the 2nd quarter. Toronto Dominion Bank now owns 565 shares of the aerospace company’s stock valued at $105,000 after acquiring an additional 36 shares during the period. Finally, World Asset Management Inc increased its holdings in shares of Huntington Ingalls Industries by 1.7% in the 2nd quarter. World Asset Management Inc now owns 2,588 shares of the aerospace company’s stock valued at $482,000 after acquiring an additional 44 shares during the period. 84.87% of the stock is currently owned by institutional investors.
About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.
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