The Goldman Sachs Group Raises Howmet Aerospace (NYSE:HWM) Price Target to $87.00

Howmet Aerospace (NYSE:HWM) had its target price lifted by analysts at The Goldman Sachs Group from $77.00 to $87.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 10.28% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. KeyCorp upped their price target on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Royal Bank of Canada lifted their price target on Howmet Aerospace from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Friday. Benchmark restated a “buy” rating and set a $53.00 price objective on shares of Howmet Aerospace in a research note on Friday, April 19th. Sanford C. Bernstein initiated coverage on Howmet Aerospace in a research note on Friday, January 5th. They issued an “outperform” rating and a $67.00 target price on the stock. Finally, Truist Financial boosted their target price on shares of Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace has a consensus rating of “Moderate Buy” and an average price target of $69.77.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $78.89 on Friday. The company has a 50 day moving average price of $66.70 and a 200-day moving average price of $57.97. The company has a market capitalization of $32.22 billion, a PE ratio of 38.11, a P/E/G ratio of 1.91 and a beta of 1.41. Howmet Aerospace has a fifty-two week low of $42.17 and a fifty-two week high of $79.47. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 1.97.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. As a group, equities analysts forecast that Howmet Aerospace will post 2.37 earnings per share for the current year.

Insider Transactions at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $67.44, for a total value 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 approximately $15,482,065.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Large investors have recently bought and sold shares of the company. AE Wealth Management LLC acquired a new stake in Howmet Aerospace during the 3rd quarter valued at approximately $262,000. Commonwealth Equity Services LLC boosted its holdings in Howmet Aerospace by 18.7% in the third quarter. Commonwealth Equity Services LLC now owns 47,733 shares of the company’s stock valued at $2,208,000 after purchasing an additional 7,534 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its position in Howmet Aerospace by 4.0% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 220,120 shares of the company’s stock worth $10,181,000 after purchasing an additional 8,516 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Howmet Aerospace by 3.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 28,617 shares of the company’s stock valued at $1,324,000 after buying an additional 874 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Howmet Aerospace by 54.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 55,686 shares of the company’s stock valued at $2,575,000 after buying an additional 19,709 shares during the period. Hedge funds and other 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.