Huntington Ingalls Industries (NYSE:HII) Price Target Raised to $375.00

Key Points

• JPMorgan raised Huntington Ingalls Industries’ price target from $370 to $375 while maintaining a “neutral” rating, implying 18.73% potential upside from the stock’s current price.
• Analyst sentiment remains moderately positive: HII has a consensus “Moderate Buy” rating and a $369.50 average price target, based on one Strong Buy, four Buy, and five Hold ratings.
• HII recently beat quarterly expectations, reporting $5.48 in earnings per share versus a $4.36 estimate and $3.54 billion in revenue, up 10.8% year over year. CEO Christopher Kastner also sold 13,070 shares under a pre-arranged trading plan.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) had its price objective lifted by analysts at JPMorgan Chase & Co. from $370.00 to $375.00 in a report released on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the aerospace company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 18.73% from the stock's current price.

HII has been the topic of several other reports. Wall Street Zen upgraded Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a report on Saturday. TD Cowen reduced their price target on shares of Huntington Ingalls Industries from $360.00 to $340.00 and set a "buy" rating for the company in a report on Friday, October 9th. Sanford C. Bernstein increased their price objective 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. Weiss Ratings upgraded Huntington Ingalls Industries from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 31st. Finally, Wolfe Research raised Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 target price for the company in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $369.50.

Huntington Ingalls Industries Stock Performance

HII stock traded up $2.14 during trading hours on Tuesday, hitting $315.84. 114,725 shares of the stock were exchanged, compared to its average volume of 532,244. The company has a 50-day simple moving average of $278.31 and a two-hundred day simple moving average of $335.62. Huntington Ingalls Industries has a 12 month low of $255.35 and a 12 month high of $460.00. The firm has a market capitalization of $12.44 billion, a P/E ratio of 17.00, a P/E/G ratio of 1.04 and a beta of 0.21. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.51.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly 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. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.38 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The firm's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.68 earnings per share. On average, analysts forecast that Huntington Ingalls Industries will post 18.60 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, CEO Christopher Kastner sold 13,070 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $324.92, for a total value of $4,246,704.40. Following the transaction, the chief executive officer directly owned 11,224 shares of the company's stock, valued at approximately $3,646,902.08. This trade represents a 53.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.80% of the company's stock.

Institutional Investors Weigh In On Huntington Ingalls Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Huntington Ingalls Industries during the 2nd quarter worth about $2,376,000. Corient Private Wealth LP grew its holdings in Huntington Ingalls Industries by 51.5% during the 2nd quarter. Corient Private Wealth LP now owns 25,114 shares of the aerospace company's stock valued at $7,029,000 after buying an additional 8,532 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Huntington Ingalls Industries during the 2nd quarter valued at about $75,094,000. Meeder Asset Management Inc. increased its position in shares of 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, WCM Investment Management LLC bought a new stake in shares of Huntington Ingalls Industries during the first quarter valued at about $16,291,000. Institutional investors and hedge funds own 90.46% of the company's stock.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc NYSE: HII is an American defense company that designs, builds, maintains and modernizes ships for the U.S. Navy and other government customers. Its shipbuilding activities include nuclear-powered aircraft carriers, submarines, amphibious assault ships, destroyers and other surface vessels, along with fleet sustainment and modernization services.

HII operates through its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Newport News Shipbuilding is involved in the construction and maintenance of nuclear-powered aircraft carriers and submarines, while Ingalls Shipbuilding builds surface combatants and amphibious ships.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.