UBS Group Issues Pessimistic Forecast for Howmet Aerospace (NYSE:HWM) Stock Price

Key Points

• UBS Group cut its Howmet Aerospace price target from $255 to $230 and maintained a “neutral” rating, implying roughly 15% upside from the stock’s $199.43 price.
• Analyst sentiment remains broadly positive despite mixed revisions: Howmet has a “Moderate Buy” consensus rating and a $295.95 average price target, with 18 Buy and one Strong Buy ratings versus four Holds.
• Howmet reported better-than-expected quarterly results, including $1.46 in adjusted earnings per share and $2.70 billion in revenue, up 29.4% year over year; institutional investors own 90.46% of the company.

Howmet Aerospace (NYSE:HWM - Get Free Report) had its price target reduced by equities research analysts at UBS Group from $255.00 to $230.00 in a research note issued on Friday, Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price indicates a potential upside of 15.33% from the stock's current price.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on Howmet Aerospace from $310.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Howmet Aerospace from $338.00 to $343.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Susquehanna reduced their target price on shares of Howmet Aerospace from $340.00 to $275.00 and set a "positive" rating on the stock in a research report on Friday. Morgan Stanley reiterated an "overweight" rating and issued a $335.00 price objective on shares of Howmet Aerospace in a research report on Monday, August 10th. Finally, Zacks Research downgraded Howmet Aerospace from a "strong-buy" rating to a "hold" rating in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $295.95.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $199.43 on Friday. The business's 50 day moving average is $229.00 and its 200-day moving average is $248.49. The firm has a market capitalization of $79.31 billion, a PE ratio of 39.03, a PEG ratio of 1.75 and a beta of 1.31. Howmet Aerospace has a 1-year low of $183.52 and a 1-year 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.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $2.59 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The firm's revenue for the quarter was up 29.4% on a year-over-year basis. Sell-side analysts predict that Howmet Aerospace will post 5.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Howmet Aerospace in the 2nd quarter valued at about $12,318,939,000. Bank of America Corp DE acquired 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. Bank of New York Mellon Corp acquired a new position in Howmet Aerospace during the 2nd quarter worth approximately $1,099,765,000. Finally, Legal & General Group Plc acquired a new stake in shares of Howmet Aerospace in the second quarter valued at approximately $580,991,000. Institutional investors 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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