UBS Group Forecasts Strong Price Appreciation for Howmet Aerospace (NYSE:HWM) Stock

Howmet Aerospace (NYSE:HWM) had its price target hoisted by analysts at UBS Group from $103.00 to $120.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 6.74% from the company’s previous close.

Several other research firms have also commented on HWM. Deutsche Bank Aktiengesellschaft upped their price objective on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Truist Financial increased their price target on Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird increased their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. BTIG Research raised their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Sanford C. Bernstein raised their target price on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.94.

Howmet Aerospace Stock Down 2.1 %

HWM stock traded down $2.44 during midday trading on Thursday, hitting $112.42. The company’s stock had a trading volume of 634,152 shares, compared to its average volume of 2,947,742. The company has a market cap of $45.88 billion, a PE ratio of 50.24, a P/E/G ratio of 1.45 and a beta of 1.46. Howmet Aerospace has a 12 month low of $47.88 and a 12 month high of $115.38. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average is $99.39 and its 200-day moving average is $88.58.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Wednesday, November 6th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. On average, equities research analysts forecast that Howmet Aerospace will post 2.59 earnings per share for the current fiscal year.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the sale, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Large investors have recently bought and sold shares of the company. Private Advisor Group LLC lifted its holdings in shares of Howmet Aerospace by 11.3% during the 1st quarter. Private Advisor Group LLC now owns 16,688 shares of the company’s stock worth $1,142,000 after acquiring an additional 1,690 shares during the period. Janney Montgomery Scott LLC increased its stake in Howmet Aerospace by 8.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 23,347 shares of the company’s stock worth $1,598,000 after purchasing an additional 1,882 shares in the last quarter. Whittier Trust Co. grew its stake in Howmet Aerospace by 81.4% during the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after acquiring an additional 228 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Howmet Aerospace during the 1st quarter valued at about $111,000. Finally, Empirical Finance LLC lifted its holdings in Howmet Aerospace by 3.6% in the 1st quarter. Empirical Finance LLC now owns 13,606 shares of the company’s stock worth $931,000 after purchasing an additional 478 shares during the last quarter. 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.