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

Howmet Aerospace (NYSE:HWM) had its price objective upped by equities researchers at The Goldman Sachs Group from $65.00 to $77.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 20.90% from the stock’s previous close.

HWM has been the subject of a number of other research reports. Sanford C. Bernstein assumed coverage on shares of Howmet Aerospace in a report on Friday, January 5th. They issued an “outperform” rating and a $67.00 target price for the company. Royal Bank of Canada assumed coverage on shares of Howmet Aerospace in a report on Monday, March 18th. They issued an “outperform” rating and a $75.00 target price for the company. Robert W. Baird increased their target price on shares of Howmet Aerospace from $65.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Finally, UBS Group raised 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. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.00.

Howmet Aerospace Stock Performance

Shares of HWM stock traded up $0.20 on Tuesday, hitting $63.69. The company’s stock had a trading volume of 159,247 shares, compared to its average volume of 3,344,162. 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 stock’s 50 day moving average is $65.33 and its 200-day moving average is $56.07. Howmet Aerospace has a fifty-two week low of $42.17 and a fifty-two week high of $69.55. The company has a market capitalization of $26.01 billion, a PE ratio of 34.87, a PEG ratio of 1.67 and a beta of 1.43.

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

Insider Buying and Selling at Howmet Aerospace

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

Hedge Funds Weigh In On Howmet Aerospace

Several institutional investors have recently added to or reduced their stakes in HWM. Norges Bank purchased a new stake in shares of Howmet Aerospace in the fourth quarter worth about $508,006,000. JPMorgan Chase & Co. lifted its holdings in shares of Howmet Aerospace by 118.7% in the third quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock worth $612,307,000 after buying an additional 7,184,620 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Howmet Aerospace by 87.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,972,420 shares of the company’s stock worth $593,828,000 after buying an additional 5,107,898 shares in the last quarter. FMR LLC lifted its holdings in shares of Howmet Aerospace by 21.2% in the third quarter. FMR LLC now owns 15,086,149 shares of the company’s stock worth $697,734,000 after buying an additional 2,635,894 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in Howmet Aerospace by 5,231.1% in the first quarter. Macquarie Group Ltd. now owns 1,575,116 shares of the company’s stock valued at $66,738,000 after purchasing an additional 1,545,570 shares in the last quarter. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Company Profile

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.