Howmet Aerospace (NYSE:HWM) PT Raised to $77.00 at The Goldman Sachs Group

Howmet Aerospace (NYSE:HWM) had its target price upped by research analysts at The Goldman Sachs Group from $65.00 to $77.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 21.34% from the company’s current price.

A number of other equities analysts have also commented on HWM. Sanford C. Bernstein started coverage on Howmet Aerospace in a report on Friday, January 5th. They issued an “outperform” rating and a $67.00 price target for the company. UBS Group lifted their price objective on Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Royal Bank of Canada started coverage on Howmet Aerospace in a research note on Monday, March 18th. They set an “outperform” rating and a $75.00 price objective for the company. Robert W. Baird lifted their price objective on Howmet Aerospace from $65.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Truist Financial raised Howmet Aerospace from a “hold” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $74.00 in a research note on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $63.46 on Tuesday. Howmet Aerospace has a one year low of $42.17 and a one year high of $69.55. The business has a fifty day moving average price of $65.52 and a 200-day moving average price of $56.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87. The firm has a market capitalization of $25.92 billion, a P/E ratio of 34.68, a PEG ratio of 1.65 and a beta of 1.43.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, equities research analysts forecast that Howmet Aerospace will post 2.18 EPS for the current year.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of Howmet Aerospace stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HWM. Norges Bank purchased a new position in shares of Howmet Aerospace in the fourth quarter worth about $508,006,000. JPMorgan Chase & Co. increased its holdings in shares of Howmet Aerospace by 118.7% in the third quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock worth $612,307,000 after buying an additional 7,184,620 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Howmet Aerospace by 87.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,972,420 shares of the company’s stock worth $593,828,000 after buying an additional 5,107,898 shares during the period. FMR LLC increased its holdings in shares of Howmet Aerospace by 21.2% in the third quarter. FMR LLC now owns 15,086,149 shares of the company’s stock worth $697,734,000 after buying an additional 2,635,894 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in shares of Howmet Aerospace by 5,231.1% in the first quarter. Macquarie Group Ltd. now owns 1,575,116 shares of the company’s stock worth $66,738,000 after buying an additional 1,545,570 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.