Howmet Aerospace (NYSE:HWM) Given New $215.00 Price Target at Bank of America

Key Points

• Bank of America has raised its price target for Howmet Aerospace (NYSE:HWM) from $185.00 to $215.00, indicating a potential upside of 19.74% from the current price.
• Other analysts have also increased their price targets for Howmet Aerospace, with Barclays moving theirs from $140.00 to $190.00 and JPMorgan Chase increasing theirs from $150.00 to $190.00.
• Howmet Aerospace reported earnings of $0.91 per share for the last quarter, exceeding analysts' expectations of $0.87, with a revenue of $2.05 billion, up 9.2% year-over-year.

Howmet Aerospace (NYSE:HWM - Get Free Report) had its price objective upped by research analysts at Bank of America from $185.00 to $215.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 19.83% from the company's previous close.

HWM has been the subject of several other research reports. Truist Financial boosted their price target on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Vertical Research restated a "buy" rating on shares of Howmet Aerospace in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $150.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday. Wall Street Zen raised shares of Howmet Aerospace from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Barclays reaffirmed an "overweight" rating and set a $190.00 price target (up from $140.00) on shares of Howmet Aerospace in a research note on Monday. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $172.13.

Howmet Aerospace Trading Down 1.5%

Shares of HWM traded down $2.64 during trading on Tuesday, reaching $179.42. 295,409 shares of the company traded hands, compared to its average volume of 3,074,625. Howmet Aerospace has a twelve month low of $88.52 and a twelve month high of $193.26. The stock has a market cap of $72.33 billion, a PE ratio of 52.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.48. The stock has a 50-day simple moving average of $179.09 and a 200-day simple moving average of $150.32. The company has a quick ratio of 1.08, a current ratio of 2.31 and a debt-to-equity ratio of 0.65.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $1.99 billion. During the same quarter last year, the company posted $0.67 EPS. The firm's revenue was up 9.2% compared to the same quarter last year. On average, analysts anticipate that Howmet Aerospace will post 3.27 earnings per share for the current year.

Insider Activity

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $158.53, for a total value of $4,755,900.00. Following the sale, the executive vice president directly owned 131,859 shares in the company, valued at approximately $20,903,607.27. The trade was a 18.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the sale, the chief executive officer owned 236,544 shares in the company, valued at approximately $37,127,946.24. This trade represents a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

Hedge Funds Weigh In On Howmet Aerospace

Several institutional investors and hedge funds have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. grew its stake in Howmet Aerospace by 4.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,491 shares of the company's stock valued at $278,000 after acquiring an additional 61 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Howmet Aerospace by 3.1% during the 2nd quarter. Venturi Wealth Management LLC now owns 2,093 shares of the company's stock valued at $390,000 after acquiring an additional 62 shares in the last quarter. Rise Advisors LLC grew its stake in Howmet Aerospace by 32.4% during the 1st quarter. Rise Advisors LLC now owns 270 shares of the company's stock valued at $35,000 after acquiring an additional 66 shares in the last quarter. Hemington Wealth Management grew its stake in Howmet Aerospace by 25.9% during the 2nd quarter. Hemington Wealth Management now owns 321 shares of the company's stock valued at $59,000 after acquiring an additional 66 shares in the last quarter. Finally, Pinpoint Asset Management Ltd grew its stake in Howmet Aerospace by 42.8% during the 1st quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company's stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company's stock.

Howmet Aerospace Company Profile

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.