Howmet Aerospace (NYSE:HWM) Given New $35.00 Price Target at JPMorgan Chase & Co.

Howmet Aerospace (NYSE:HWM) had its target price boosted by JPMorgan Chase & Co. from $32.00 to $35.00 in a report released on Wednesday, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on HWM. Credit Suisse Group cut their target price on shares of Howmet Aerospace from $34.00 to $32.00 and set an outperform rating on the stock in a research note on Thursday, February 4th. Zacks Investment Research raised Howmet Aerospace from a hold rating to a buy rating and set a $30.00 price objective on the stock in a research report on Monday, February 8th. KeyCorp lifted their target price on Howmet Aerospace from $36.00 to $37.00 and gave the company an overweight rating in a report on Wednesday, March 24th. Finally, The Goldman Sachs Group assumed coverage on Howmet Aerospace in a report on Sunday, December 13th. They set a buy rating and a $34.00 price target on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $30.90.

Shares of NYSE HWM opened at $31.80 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average is $30.51 and its two-hundred day moving average is $25.21. Howmet Aerospace has a 52-week low of $9.87 and a 52-week high of $32.96. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 30.29 and a beta of 1.98.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Tuesday, February 2nd. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Howmet Aerospace had a return on equity of 16.55% and a net margin of 5.16%. The company’s revenue was down 28.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. Analysts anticipate that Howmet Aerospace will post 0.73 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Truist Financial Corp boosted its holdings in Howmet Aerospace by 10.5% in the third quarter. Truist Financial Corp now owns 34,240 shares of the company’s stock valued at $573,000 after purchasing an additional 3,255 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Howmet Aerospace by 217.9% in the 3rd quarter. Morgan Stanley now owns 1,356,956 shares of the company’s stock valued at $22,688,000 after buying an additional 930,071 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Howmet Aerospace by 25.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,534 shares of the company’s stock valued at $778,000 after buying an additional 9,500 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Howmet Aerospace by 26.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 15,769 shares of the company’s stock valued at $264,000 after buying an additional 3,272 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Howmet Aerospace during the 3rd quarter worth $570,000. 86.52% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: Understanding Price to Earnings Ratio (PE)

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Analyst Recommendations for Howmet Aerospace (NYSE:HWM)

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