The Goldman Sachs Group Raises Howmet Aerospace (NYSE:HWM) Price Target to $77.00

Howmet Aerospace (NYSE:HWM) had its price objective raised by stock analysts at The Goldman Sachs Group from $65.00 to $77.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 21.34% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. UBS Group increased their price objective on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Barclays increased their price target on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Royal Bank of Canada initiated coverage on shares of Howmet Aerospace in a research report on Monday, March 18th. They issued an “outperform” rating and a $75.00 price objective on the stock. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a research report on Friday, January 5th. They issued an “outperform” rating and a $67.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Howmet Aerospace Trading Down 0.9 %

Shares of HWM stock opened at $63.46 on Tuesday. Howmet Aerospace has a 52-week low of $42.17 and a 52-week high of $69.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.87 and a current ratio of 1.86. The firm has a market capitalization of $25.92 billion, a PE ratio of 34.68, a PEG ratio of 1.65 and a beta of 1.43. The stock has a fifty day simple moving average of $65.52 and a two-hundred day simple moving average of $56.24.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $0.38 EPS. Howmet Aerospace’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, analysts predict that Howmet Aerospace will post 2.18 EPS for the current fiscal year.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the transaction, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Several institutional investors have recently bought and sold shares of HWM. Venturi Wealth Management LLC boosted its stake in Howmet Aerospace by 61.3% in the third quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock valued at $26,000 after acquiring an additional 212 shares in the last quarter. Financial Freedom LLC acquired a new position in Howmet Aerospace during the fourth quarter valued at $29,000. Headinvest LLC acquired a new position in Howmet Aerospace during the third quarter valued at $30,000. Kathleen S. Wright Associates Inc. acquired a new position in Howmet Aerospace during the third quarter valued at $31,000. Finally, Clear Street Markets LLC lifted its position in Howmet Aerospace by 93.8% during the first quarter. Clear Street Markets LLC now owns 721 shares of the company’s stock valued at $31,000 after purchasing an additional 349 shares during the period. 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.