Howmet Aerospace (NYSE:HWM) Upgraded at KeyCorp

Key Points

• KeyCorp upgraded Howmet Aerospace to Overweight from Sector Weight and set a $237 price target, implying approximately 11.3% upside from the referenced share price.
• Analyst sentiment remains broadly positive, with a consensus rating of Moderate Buy and an average price target of $295.81, despite recent target reductions from UBS and other firms.
• Howmet exceeded quarterly expectations, reporting $1.46 in EPS versus $1.37 expected and $2.70 billion in revenue, up 29.4% year over year; institutional investors own 90.46% of the stock.

Howmet Aerospace (NYSE:HWM - Get Free Report) was upgraded by research analysts at KeyCorp from a "sector weight" rating to an "overweight" rating in a report released on Tuesday, Briefing.com reports. The firm presently has a $237.00 target price on the stock. KeyCorp's price target would suggest a potential upside of 11.33% from the company's current price.

A number of other analysts have also recently commented on HWM. Morgan Stanley reaffirmed an "overweight" rating and issued a $335.00 price target on shares of Howmet Aerospace in a research note on Monday, August 10th. Zacks Research lowered shares of Howmet Aerospace from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 9th. Royal Bank Of Canada decreased their price objective on shares of Howmet Aerospace from $350.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, October 15th. Citigroup reaffirmed a "buy" rating on shares of Howmet Aerospace in a research note on Tuesday, October 27th. Finally, UBS Group cut their target price on shares of Howmet Aerospace from $255.00 to $230.00 and set a "neutral" rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $295.81.

Howmet Aerospace Stock Up 6.9%

Shares of Howmet Aerospace stock opened at $212.89 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 0.71. Howmet Aerospace has a 12 month low of $183.52 and a 12 month high of $310.00. The business has a fifty day simple moving average of $227.83 and a 200 day simple moving average of $248.46. The stock has a market cap of $85.18 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 1.75 and a beta of 1.21.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.09. Howmet Aerospace had a return on equity of 33.91% and a net margin of 20.52%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The firm's revenue was up 29.4% on a year-over-year basis. Research analysts predict that Howmet Aerospace will post 5.45 EPS for the current year.

Institutional Trading of Howmet Aerospace

A number of institutional investors have recently modified their holdings of HWM. BlackRock Inc. bought a new position in shares of Howmet Aerospace during the second quarter worth about $12,318,939,000. State Street Corp lifted its stake in Howmet Aerospace by 3.3% in the 2nd quarter. State Street Corp now owns 18,933,928 shares of the company's stock valued at $5,090,576,000 after acquiring an additional 612,866 shares in the last quarter. Bank of America Corp DE bought a new stake in Howmet Aerospace in the 2nd quarter valued at approximately $2,766,806,000. Jupiter Topco LLC bought a new stake in Howmet Aerospace in the 2nd quarter valued at approximately $2,065,086,000. Finally, Bank of New York Mellon Corp acquired a new position in Howmet Aerospace during the 2nd quarter worth approximately $1,099,765,000. 90.46% of the stock is currently owned by institutional investors.

Trending Headlines about Howmet Aerospace

Here are the key news stories impacting Howmet Aerospace this week:

• Positive Sentiment: KeyBanc upgraded Howmet Aerospace to Overweight following the company’s third-quarter report, signaling increased confidence in its earnings outlook and aerospace-related growth prospects. KeyBanc upgrades Howmet Aerospace to Overweight after Q3 report
• Positive Sentiment: A Zacks analysis said growth investors should not overlook HWM, citing above-average financial growth and the company’s potential to outperform the broader market. 3 Reasons Why Growth Investors Shouldn't Overlook Howmet
• Positive Sentiment: BTIG maintained a Buy rating while setting a $280 price target, which still implies substantial potential upside from the stock’s referenced price, despite reducing its previous target. BTIG Adjusts Price Target on Howmet Aerospace
• Neutral Sentiment: BTIG lowered its price target to $280 from $340, reflecting more cautious valuation assumptions, but its continued Buy rating indicates analysts still view HWM’s long-term fundamentals favorably. Howmet Aerospace price target lowered at BTIG
• Negative Sentiment: UBS reduced its target to $230 from $255 and maintained a Neutral rating, while Susquehanna and BNP Paribas Exane also trimmed their targets, adding pressure to the near-term valuation narrative. Howmet Aerospace Stock Gets Price Target Reduction from BNP Paribas Exane Howmet Aerospace Stock Gets Price Target Trim from Susquehanna

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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