Howmet Aerospace (NYSE:HWM) Stock Rating Lowered by Zacks Investment Research

Howmet Aerospace (NYSE:HWM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Howmet Aerospace Inc. is a provider of advanced engineered solutions for the aerospace and transportation industries. The Company’s primary businesses focus on jet engine components, aerospace fastening systems and titanium structural parts for aerospace and defense applications, as well as forged wheels for commercial transportation. Howmet Aerospace Inc., formerly known as Arconic Inc, is based in Pittsburgh, Pennsylvania. “

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday. KeyCorp raised their target price on Howmet Aerospace from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, March 24th. Credit Suisse Group decreased their price target on Howmet Aerospace from $34.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, February 4th. Finally, The Goldman Sachs Group started coverage on shares of Howmet Aerospace in a research note on Sunday, December 13th. They set a “buy” rating and a $34.00 price objective on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $30.90.

Shares of Howmet Aerospace stock traded up $0.40 during midday trading on Wednesday, hitting $31.80. The company had a trading volume of 2,676,001 shares, compared to its average volume of 3,582,126. The company has a fifty day simple moving average of $30.51 and a 200 day simple moving average of $25.21. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 30.29 and a beta of 1.98. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 1.36. Howmet Aerospace has a 12-month low of $9.87 and a 12-month high of $32.96.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Tuesday, February 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. Howmet Aerospace had a net margin of 5.16% and a return on equity of 16.55%. Howmet Aerospace’s revenue for the quarter was down 28.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. As a group, analysts expect that Howmet Aerospace will post 0.73 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners lifted its position in Howmet Aerospace by 17.9% during the fourth quarter. Boston Partners now owns 18,632,792 shares of the company’s stock worth $531,780,000 after buying an additional 2,831,040 shares in the last quarter. Steadfast Capital Management LP raised its holdings in shares of Howmet Aerospace by 30.7% during the 4th quarter. Steadfast Capital Management LP now owns 7,133,186 shares of the company’s stock worth $203,581,000 after acquiring an additional 1,675,084 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Howmet Aerospace by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,711,728 shares of the company’s stock valued at $163,010,000 after acquiring an additional 70,052 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Howmet Aerospace by 658.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,315,926 shares of the company’s stock valued at $151,691,000 after acquiring an additional 4,614,715 shares during the last quarter. Finally, Egerton Capital UK LLP purchased a new stake in shares of Howmet Aerospace in the fourth quarter valued at about $113,322,000. 86.52% of the stock is owned by institutional investors.

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.

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