BTIG Research Has Lowered Expectations for Howmet Aerospace (NYSE:HWM) Stock Price

Key Points

• BTIG Research lowered Howmet Aerospace’s price target from $340 to $280 while maintaining a “buy” rating, implying roughly 40.4% upside from the reported $199.43 share price.
• Analyst sentiment remains generally positive, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $295.95, despite several recent target and rating downgrades.
• Howmet exceeded quarterly expectations, reporting $1.46 in EPS versus $1.37 expected and $2.70 billion in revenue versus $2.59 billion estimated; revenue increased 29.4% year over year.

Howmet Aerospace (NYSE:HWM - Get Free Report) had its price target reduced by equities research analysts at BTIG Research from $340.00 to $280.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's target price indicates a potential upside of 40.40% from the company's current price.

A number of other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Howmet Aerospace from $338.00 to $343.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Sanford C. Bernstein restated an "outperform" rating and set a $298.00 price objective (down from $328.00) on shares of Howmet Aerospace in a research note on Wednesday, October 7th. Wells Fargo & Company cut their target price on Howmet Aerospace from $315.00 to $255.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 30th. Zacks Research cut Howmet Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 9th. Finally, Wall Street Zen downgraded shares of Howmet Aerospace from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Howmet Aerospace presently has a consensus rating of "Moderate Buy" and a consensus price target of $295.95.

Howmet Aerospace Trading Up 0.1%

NYSE HWM opened at $199.43 on Monday. The company's fifty day simple moving average is $229.00 and its 200-day simple moving average is $248.49. Howmet Aerospace has a 52 week low of $183.52 and a 52 week high of $310.00. The company has a current ratio of 1.86, a quick ratio of 0.90 and a debt-to-equity ratio of 0.70. The stock has a market cap of $79.31 billion, a P/E ratio of 39.03, a PEG ratio of 1.75 and a beta of 1.31.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.09. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same period last year, the business earned $0.95 EPS. The business's revenue was up 29.4% on a year-over-year basis. Equities research analysts predict that Howmet Aerospace will post 5.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Howmet Aerospace

Several institutional investors have recently bought and sold shares of HWM. West Paces Advisors Inc. acquired a new stake in shares of Howmet Aerospace in the 2nd quarter worth approximately $27,000. Bartlett & CO. Wealth Management LLC boosted its position in shares of Howmet Aerospace by 55.1% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 107 shares of the company's stock valued at $29,000 after purchasing an additional 38 shares in the last quarter. Markowski Investments acquired a new stake in Howmet Aerospace during the second quarter valued at approximately $29,000. Reyes Financial Architecture Inc. bought a new stake in Howmet Aerospace during the third quarter worth approximately $31,000. Finally, Retirement Wealth Solutions LLC increased its holdings in shares of Howmet Aerospace by 328.1% in the third quarter. Retirement Wealth Solutions LLC now owns 137 shares of the company's stock valued at $31,000 after buying an additional 105 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 NYSE: HWM is a global manufacturer of advanced engineered products and materials primarily serving the aerospace, defense, commercial transportation and industrial markets. The company develops components designed to operate in demanding environments where strength, durability and weight reduction are important.

Howmet's product portfolio includes aircraft engine components, airframe structures, titanium and nickel-based forgings, fastening systems and wheels for commercial vehicles.

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