Huntington Ingalls Industries (NYSE:HII) Given New $420.00 Price Target at TD Cowen

Key Points

• TD Cowen lowered its price target on Huntington Ingalls Industries to $420 from $460, while keeping a buy rating. The new target still implies about 25% upside from the prior close.
• Recent analyst opinions on HII have been mixed, with some firms cutting targets or downgrading ratings, while others remain bullish. Overall, the stock currently carries a Hold consensus and an average target price of $378.78.
• HII reported better-than-expected quarterly results, including EPS of $3.79 versus estimates of $3.70 and revenue of $3.10 billion versus $3.02 billion expected. The company also said revenue rose 13.4% year over year.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) had its price objective decreased by stock analysts at TD Cowen from $460.00 to $420.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the aerospace company's stock. TD Cowen's price objective points to a potential upside of 25.25% from the stock's previous close.

HII has been the topic of a number of other research reports. Wells Fargo & Company assumed coverage on shares of Huntington Ingalls Industries in a research note on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 price target on the stock. Wall Street Zen lowered shares of Huntington Ingalls Industries from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Citigroup cut their price objective on shares of Huntington Ingalls Industries from $465.00 to $441.00 and set a "buy" rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings lowered shares of Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Huntington Ingalls Industries from $384.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Huntington Ingalls Industries presently has an average rating of "Hold" and a consensus target price of $378.78.

Huntington Ingalls Industries Stock Up 0.3%

HII traded up $1.10 during trading on Thursday, reaching $335.32. The company had a trading volume of 54,036 shares, compared to its average volume of 559,185. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 1.11. Huntington Ingalls Industries has a 12 month low of $215.04 and a 12 month high of $460.00. The business's fifty day moving average price is $387.80 and its 200 day moving average price is $371.51. The company has a market cap of $13.21 billion, a P/E ratio of 21.81, a PEG ratio of 1.41 and a beta of 0.29.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, beating analysts' consensus estimates of $3.70 by $0.09. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the firm posted $3.79 earnings per share. The business's revenue was up 13.4% on a year-over-year basis. Equities analysts anticipate that Huntington Ingalls Industries will post 17.33 EPS for the current year.

Insider Buying and Selling at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Chad N. Boudreaux sold 4,400 shares of the company's stock in a transaction on 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 transaction, the vice president directly owned 20,360 shares in the company, valued at $8,601,082. The trade was a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eric D. Chewning sold 1,700 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $433.44, for a total transaction of $736,848.00. Following the completion of the transaction, the executive vice president owned 1,949 shares in the company, valued at approximately $844,774.56. This represents a 46.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Ingalls Industries

Several institutional investors and hedge funds have recently modified their holdings of HII. CYBER HORNET ETFs LLC acquired a new position in shares of Huntington Ingalls Industries in the second quarter valued at $25,000. Rakuten Securities Inc. boosted its position in shares of Huntington Ingalls Industries by 140.0% in the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 63 shares during the period. Bayban bought a new stake in shares of Huntington Ingalls Industries in the first quarter valued at about $27,000. NBC Securities Inc. boosted its position in shares of Huntington Ingalls Industries by 87.2% in the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock valued at $30,000 after acquiring an additional 41 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Huntington Ingalls Industries by 120.0% in the third quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company's stock valued at $32,000 after acquiring an additional 60 shares during the period. 90.46% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Ingalls Industries

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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