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

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 Bank of America from $180.00 to $260.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "underperform" rating on the aerospace company's stock. Bank of America's price target suggests a potential downside of 2.27% from the company's current price.

Several other research firms have also issued reports on HII. TD Cowen raised shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating and boosted their price target for the company from $250.00 to $300.00 in a research report on Thursday, July 10th. Alembic Global Advisors raised shares of Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price objective for the company in a research note on Thursday, May 15th. Wall Street Zen raised shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays upped their price objective 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. Finally, The Goldman Sachs Group lifted their price target on shares of Huntington Ingalls Industries from $236.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $267.00.

Huntington Ingalls Industries Stock Down 0.5%

NYSE HII traded down $1.42 on Wednesday, hitting $266.04. 346,578 shares of the company were exchanged, compared to its average volume of 507,502. The company has a market cap of $10.44 billion, a PE ratio of 19.91, a PEG ratio of 1.57 and a beta of 0.33. The stock has a fifty day moving average of $251.49 and a 200-day moving average of $220.66. Huntington Ingalls Industries has a 12 month low of $158.88 and a 12 month high of $293.14. The company has a current ratio of 1.08, a quick ratio of 1.00 and a debt-to-equity ratio of 0.55.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released 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. The business had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $2.94 billion. Huntington Ingalls Industries had a net margin of 4.54% and a return on equity of 11.34%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.38 earnings per share. As a group, analysts forecast that Huntington Ingalls Industries will post 13.99 earnings per share for the current year.

Insider Transactions at Huntington Ingalls Industries

In related news, VP Chad N. Boudreaux sold 1,965 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $228.94, for a total transaction of $449,867.10. Following the completion of the sale, the vice president directly owned 21,228 shares in the company, valued at approximately $4,859,938.32. The trade was a 8.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On Huntington Ingalls Industries

Large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in Huntington Ingalls Industries during the first quarter valued at $1,324,000. GAMMA Investing LLC lifted its position in shares of Huntington Ingalls Industries by 269.0% during the first quarter. GAMMA Investing LLC now owns 2,413 shares of the aerospace company's stock valued at $492,000 after buying an additional 1,759 shares during the last quarter. Eisler Capital Management Ltd. purchased a new position in shares of Huntington Ingalls Industries in the 4th quarter valued at approximately $5,679,000. Sowell Financial Services LLC purchased a new position in shares of Huntington Ingalls Industries in the 1st quarter valued at approximately $247,000. Finally, Ninety One UK Ltd acquired a new position in Huntington Ingalls Industries in the 1st quarter worth approximately $14,924,000. Hedge funds and other institutional investors own 90.46% of the company's stock.

Huntington Ingalls Industries Company Profile

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.