Citigroup Cuts Huntington Ingalls Industries (NYSE:HII) Price Target to $405.00

Key Points

• Citigroup cut its price target on Huntington Ingalls Industries from $441 to $405, while keeping a buy rating on the stock. The new target still implies about 22.8% upside from the previous close.
• Analyst sentiment on HII is mixed: recent actions include upgrades from Bank of America and a lowered rating from Weiss Ratings and Wall Street Zen. Overall, the stock’s consensus rating is currently Hold, with an average target price of $388.50.
• HII reported stronger-than-expected quarterly results, with EPS of $3.79 beating estimates and revenue of $3.10 billion topping forecasts. The company also said revenue rose 13.4% year over year.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) had its price objective cut by Citigroup from $441.00 to $405.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the aerospace company's stock. Citigroup's price target would suggest a potential upside of 22.79% from the company's previous close.

HII has been the topic of a number of other research reports. Bank of America upgraded Huntington Ingalls Industries from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $300.00 to $400.00 in a report on Thursday, February 12th. Sanford C. Bernstein restated a "market perform" rating and issued a $421.00 price objective on shares of Huntington Ingalls Industries in a report on Wednesday, February 11th. Weiss Ratings lowered Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Wall Street Zen lowered Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a report on Monday. Finally, Wells Fargo & Company initiated coverage on Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Huntington Ingalls Industries currently has an average rating of "Hold" and an average target price of $388.50.

Huntington Ingalls Industries Price Performance

Shares of NYSE:HII traded up $3.67 during midday trading on Monday, reaching $329.84. 113,384 shares of the company's stock traded hands, compared to its average volume of 556,825. Huntington Ingalls Industries has a 1 year low of $215.04 and a 1 year high of $460.00. The company has a market cap of $13.00 billion, a P/E ratio of 21.46, a PEG ratio of 1.38 and a beta of 0.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.19. The company has a fifty day simple moving average of $383.51 and a two-hundred day simple moving average of $371.94.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.70 by $0.09. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the firm posted $3.79 EPS. The business's revenue was up 13.4% on a year-over-year basis. Equities analysts predict that Huntington Ingalls Industries will post 17.29 EPS for the current fiscal year.

Insider Activity

In other Huntington Ingalls Industries news, EVP Eric D. Chewning sold 1,700 shares of Huntington Ingalls Industries stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total value of $736,848.00. Following the completion of the transaction, the executive vice president directly owned 1,949 shares of the company's stock, valued at $844,774.56. The trade was a 46.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Chad N. Boudreaux sold 4,400 shares of Huntington Ingalls Industries stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $422.45, for a total value of $1,858,780.00. Following the completion of the transaction, the vice president directly owned 20,360 shares of the company's stock, valued at approximately $8,601,082. This represents a 17.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On Huntington Ingalls Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its stake in Huntington Ingalls Industries by 38,526.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company's stock worth $675,572,000 after purchasing an additional 1,981,424 shares during the last quarter. Van ECK Associates Corp lifted its stake in Huntington Ingalls Industries by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company's stock worth $560,004,000 after purchasing an additional 400,428 shares during the last quarter. Geode Capital Management LLC lifted its stake in Huntington Ingalls Industries by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,116,501 shares of the aerospace company's stock worth $379,098,000 after purchasing an additional 56,618 shares during the last quarter. AQR Capital Management LLC lifted its stake in Huntington Ingalls Industries by 85.0% during the fourth quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company's stock worth $369,186,000 after purchasing an additional 498,690 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Huntington Ingalls Industries by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 978,365 shares of the aerospace company's stock worth $332,717,000 after purchasing an additional 11,743 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries NYSE: HII is America's largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company's products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman's shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.

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