Citigroup Has Lowered Expectations for Huntington Ingalls Industries (NYSE:HII) Stock Price

Key Points

• Citigroup cut its Huntington Ingalls Industries price target from $379 to $352 but maintained a Buy rating; the new target implies 12.82% upside from the stock’s current price.
• Analyst sentiment remains positive overall: MarketBeat reports a “Moderate Buy” consensus and an average price target of $366.12.
• Huntington Ingalls beat quarterly estimates, reporting EPS of $5.48 versus $4.36 expected and revenue of $3.54 billion, up 10.8% year over year.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) had its target price dropped by equities researchers at Citigroup from $379.00 to $352.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the aerospace company's stock. Citigroup's target price points to a potential upside of 12.82% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company upped their price target on Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 4th. Weiss Ratings raised Huntington Ingalls Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 31st. Wolfe Research upgraded Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price objective on the stock in a research note on Friday, July 31st. TD Cowen dropped their price objective on shares of Huntington Ingalls Industries from $360.00 to $340.00 and set a "buy" rating on the stock in a report on Friday, October 9th. Finally, Sanford C. Bernstein increased their target price on shares of Huntington Ingalls Industries from $304.00 to $352.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $366.12.

Huntington Ingalls Industries Stock Performance

NYSE HII traded up $7.63 during trading hours on Tuesday, reaching $311.99. 134,807 shares of the company were exchanged, compared to its average volume of 533,485. The stock has a market capitalization of $12.30 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.11 and a beta of 0.17. The company has a quick ratio of 1.18, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. Huntington Ingalls Industries has a 1 year low of $255.35 and a 1 year high of $460.00. The business's 50 day simple moving average is $278.94 and its 200-day simple moving average is $332.65.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its earnings results on Thursday, October 29th. The aerospace company reported $5.48 earnings per share for the quarter, beating analysts' consensus estimates of $4.36 by $1.12. Huntington Ingalls Industries had a net margin of 5.42% and a return on equity of 13.95%. The firm had revenue of $3.54 billion for the quarter, compared to analysts' expectations of $3.38 billion. During the same period in the previous year, the company earned $3.68 earnings per share. The company's quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Huntington Ingalls Industries will post 19.30 earnings per share for the current year.

Institutional Trading of Huntington Ingalls Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Huntington Ingalls Industries during the 2nd quarter valued at $2,376,000. Corient Private Wealth LP lifted its stake in Huntington Ingalls Industries by 51.5% in the second quarter. Corient Private Wealth LP now owns 25,114 shares of the aerospace company's stock worth $7,029,000 after purchasing an additional 8,532 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Huntington Ingalls Industries in the second quarter worth $75,094,000. Meeder Asset Management Inc. boosted its position in Huntington Ingalls Industries by 102.3% during the first quarter. Meeder Asset Management Inc. now owns 13,009 shares of the aerospace company's stock valued at $4,942,000 after buying an additional 6,579 shares during the period. Finally, Gradient Investments LLC boosted its position in Huntington Ingalls Industries by 36.1% during the third quarter. Gradient Investments LLC now owns 66,041 shares of the aerospace company's stock valued at $17,638,000 after buying an additional 17,514 shares during the period. 90.46% of the stock is currently owned by institutional investors.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc. NYSE: HII is a U.S. defense contractor focused on shipbuilding and technology services. Its shipyards design, build, and maintain vessels for the U.S. Navy and other government customers, including nuclear-powered aircraft carriers, submarines, destroyers, and amphibious ships. The company operates Newport News Shipbuilding in Virginia and Ingalls Shipbuilding in Mississippi. Newport News is the sole designer and builder of U.S. Navy nuclear-powered aircraft carriers and, alongside General Dynamics Electric Boat, builds the Navy's nuclear-powered submarines.

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