Zacks Investment Research upgraded shares of Huntington Ingalls Industries, Inc. (NYSE:HII) from a hold rating to a buy rating in a report issued on Friday. They currently have $282.00 target price on the aerospace company’s stock.
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.”
HII has been the topic of several other research reports. ValuEngine upgraded shares of Huntington Ingalls Industries from a hold rating to a buy rating in a research report on Friday, September 1st. Citigroup Inc. restated a neutral rating and issued a $233.00 price target (up previously from $224.00) on shares of Huntington Ingalls Industries in a research report on Monday, October 9th. Credit Suisse Group restated a neutral rating and issued a $241.00 price target (up previously from $211.00) on shares of Huntington Ingalls Industries in a research report on Thursday, November 9th. Deutsche Bank AG restated a buy rating and issued a $240.00 price target (up previously from $230.00) on shares of Huntington Ingalls Industries in a research report on Wednesday, August 9th. Finally, Cowen and Company restated a hold rating and issued a $210.00 price target on shares of Huntington Ingalls Industries in a research report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Huntington Ingalls Industries presently has an average rating of Hold and an average price target of $222.57.
Huntington Ingalls Industries (NYSE HII) traded down $1.32 during trading on Friday, reaching $237.86. 67,382 shares of the company’s stock traded hands, compared to its average volume of 336,479. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.38 and a current ratio of 1.52. The firm has a market capitalization of $10,892.58, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 1.34 and a beta of 1.19. Huntington Ingalls Industries has a 12-month low of $170.15 and a 12-month high of $253.44.
Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings results on Wednesday, November 8th. The aerospace company reported $3.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.49. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. Huntington Ingalls Industries had a net margin of 8.31% and a return on equity of 33.37%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.27 earnings per share. analysts predict that Huntington Ingalls Industries will post 11.99 EPS for the current fiscal year.
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Huntington Ingalls Industries declared that its board has approved 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. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be paid a $0.72 dividend. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is currently 18.13%.
A number of institutional investors have recently bought and sold shares of HII. Howe & Rusling Inc. boosted its stake in Huntington Ingalls Industries by 4,844.4% in the 3rd quarter. Howe & Rusling Inc. now owns 445 shares of the aerospace company’s stock worth $101,000 after purchasing an additional 436 shares during the period. Toronto Dominion Bank boosted its stake in shares of Huntington Ingalls Industries by 6.8% during the 2nd quarter. Toronto Dominion Bank now owns 565 shares of the aerospace company’s stock valued at $105,000 after buying an additional 36 shares during the period. Global X Management Co. LLC acquired a new stake in shares of Huntington Ingalls Industries during the 2nd quarter valued at $125,000. Pacer Advisors Inc. boosted its stake in shares of Huntington Ingalls Industries by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 889 shares of the aerospace company’s stock valued at $165,000 after buying an additional 58 shares during the period. Finally, Puplava Financial Services Inc. boosted its stake in shares of Huntington Ingalls Industries by 10.2% during the 2nd quarter. Puplava Financial Services Inc. now owns 1,138 shares of the aerospace company’s stock valued at $212,000 after buying an additional 105 shares during the period. 84.65% of the stock is owned by hedge funds and other institutional investors.
Huntington Ingalls Industries Company Profile
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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