Bank of America Increases Huntington Ingalls Industries (NYSE:HII) Price Target to $260.00

Key Points

• Bank of America has raised its price target for Huntington Ingalls Industries (NYSE:HII) from $180.00 to $260.00, while maintaining an "underperform" rating on the stock.
• Other analysts have given varied ratings, with Alembic Global Advisors upgrading to "overweight" with a $265.00 target, while Barclays set a target of $295.00.
• Huntington Ingalls reported earnings of $3.86 per share, beating estimates, and had revenue of $3.08 billion for the last quarter, indicating a year-over-year revenue increase of 3.5%.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) had its price target hoisted by equities research analysts at Bank of America from $180.00 to $260.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "underperform" rating on the aerospace company's stock. Bank of America's target price points to a potential downside of 2.73% from the company's previous close.

HII has been the topic of several other research reports. The Goldman Sachs Group increased their price target on shares of Huntington Ingalls Industries from $236.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Alembic Global Advisors upgraded shares of Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price target on the stock in a report on Thursday, May 15th. TD Cowen upgraded shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating and increased their price target for the stock from $250.00 to $300.00 in a report on Thursday, July 10th. Finally, Barclays increased their price target on shares of Huntington Ingalls Industries from $235.00 to $295.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Huntington Ingalls Industries has an average rating of "Hold" and a consensus target price of $267.00.

Huntington Ingalls Industries Stock Performance

NYSE:HII traded down $2.13 during midday trading on Wednesday, hitting $267.30. The company's stock had a trading volume of 226,817 shares, compared to its average volume of 511,798. Huntington Ingalls Industries has a fifty-two week low of $158.88 and a fifty-two week high of $293.14. The firm's 50 day moving average is $250.71 and its 200-day moving average is $219.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.00. The firm has a market cap of $10.49 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.63 and a beta of 0.33.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The aerospace company reported $3.86 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.63. Huntington Ingalls Industries had a net margin of 4.54% and a return on equity of 11.34%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the company earned $4.38 EPS. Huntington Ingalls Industries's quarterly revenue was up 3.5% on a year-over-year basis. Equities analysts anticipate that Huntington Ingalls Industries will post 13.99 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Chad N. Boudreaux sold 1,965 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total transaction of $449,867.10. Following the transaction, the vice president owned 21,228 shares in the company, valued at $4,859,938.32. This trade represents a 8.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lighthouse Investment Partners LLC lifted its position in shares of Huntington Ingalls Industries by 36.4% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 2,300 shares of the aerospace company's stock valued at $555,000 after buying an additional 614 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of Huntington Ingalls Industries during the 2nd quarter valued at approximately $93,332,000. Quantinno Capital Management LP lifted its position in shares of Huntington Ingalls Industries by 58.1% during the 2nd quarter. Quantinno Capital Management LP now owns 21,820 shares of the aerospace company's stock valued at $5,269,000 after buying an additional 8,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Huntington Ingalls Industries by 58.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 278,080 shares of the aerospace company's stock valued at $67,145,000 after buying an additional 102,315 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in shares of Huntington Ingalls Industries during the 2nd quarter valued at approximately $235,000. Hedge funds and other institutional investors own 90.46% of the company's stock.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.