BTIG Research Initiates Coverage on Howmet Aerospace (NYSE:HWM)

Equities researchers at BTIG Research started coverage on shares of Howmet Aerospace (NYSE:HWM) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $95.00 price target on the stock. BTIG Research’s price target would indicate a potential upside of 21.48% from the company’s previous close.

HWM has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating and set a $53.00 target price on shares of Howmet Aerospace in a research report on Friday, April 19th. KeyCorp lifted their target price on Howmet Aerospace from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Robert W. Baird lifted their price target on Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Argus lifted their price target on Howmet Aerospace from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Northcoast Research reiterated a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.88.

Howmet Aerospace Price Performance

Shares of HWM stock opened at $78.20 on Wednesday. Howmet Aerospace has a 52-week low of $42.94 and a 52-week high of $85.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. The firm has a market capitalization of $31.92 billion, a P/E ratio of 37.78, a P/E/G ratio of 1.45 and a beta of 1.50. The stock has a 50 day moving average price of $78.28 and a 200 day moving average price of $66.79.

Howmet Aerospace (NYSE:HWM) last issued 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. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company earned $0.42 EPS. Howmet Aerospace’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Howmet Aerospace will post 2.39 earnings per share for the current year.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $84.26, for a total value of $2,748,055.64. Following the completion of the transaction, the executive vice president now owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 business. Accurate Wealth Management LLC acquired a new position in Howmet Aerospace in the 4th quarter worth about $2,825,000. Los Angeles Capital Management LLC increased its stake in Howmet Aerospace by 70.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock worth $87,131,000 after buying an additional 524,805 shares in the last quarter. Quadrature Capital Ltd increased its stake in Howmet Aerospace by 303.8% during the 4th quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock worth $1,279,000 after buying an additional 17,777 shares in the last quarter. National Bank of Canada FI increased its stake in Howmet Aerospace by 39.0% during the 4th quarter. National Bank of Canada FI now owns 120,557 shares of the company’s stock worth $6,477,000 after buying an additional 33,844 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in Howmet Aerospace by 24.8% during the 4th quarter. First Trust Direct Indexing L.P. now owns 6,381 shares of the company’s stock worth $345,000 after buying an additional 1,269 shares in the last quarter. Institutional investors and hedge funds 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.