Huntington Ingalls Industries (NYSE:HII) Price Target Cut to $349.00 by Analysts at Citigroup

Key Points

• Citigroup cut Huntington Ingalls Industries’ price target from $405 to $349, while keeping a buy rating. The new target still implies about 23.8% upside from the prior close.
• The stock has seen mixed analyst sentiment, with several firms lowering ratings or price targets; MarketBeat shows an average rating of Hold and an average target of $381.50.
• HII posted better-than-expected quarterly results, with EPS of $3.79 and revenue of $3.10 billion, and revenue rose 13.4% year over year. The company also saw a recent insider sale by VP Edmond E. Jr. Hughes.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) had its target price reduced by equities research analysts at Citigroup from $405.00 to $349.00 in a research report issued to clients and investors on Wednesday,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 23.76% from the stock's previous close.

Other analysts have also issued reports about the company. Wells Fargo & Company started coverage on Huntington Ingalls Industries in a research note on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 target price for the company. Weiss Ratings downgraded Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. TD Cowen reduced their price objective on Huntington Ingalls Industries from $460.00 to $420.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. Finally, Wall Street Zen lowered Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $381.50.

Huntington Ingalls Industries Stock Up 0.8%

NYSE:HII traded up $2.10 during trading hours on Wednesday, hitting $282.00. 84,043 shares of the company's stock traded hands, compared to its average volume of 547,147. The stock's fifty day moving average price is $316.12 and its two-hundred day moving average price is $369.01. The firm has a market cap of $11.11 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.17 and a beta of 0.23. Huntington Ingalls Industries has a twelve month low of $242.62 and a twelve month high of $460.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.19.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the business earned $3.79 EPS. Huntington Ingalls Industries's quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts expect that Huntington Ingalls Industries will post 17.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $319.58, for a total value of $1,118,530.00. Following the completion of the transaction, the vice president owned 8,391 shares in the company, valued at $2,681,595.78. This trade represents a 29.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 acquiring an additional 1,981,424 shares during the last quarter. Van ECK Associates Corp increased its position in shares of 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 buying an additional 400,428 shares during the period. Geode Capital Management LLC raised 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 buying an additional 56,618 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Huntington Ingalls Industries by 85.0% in the fourth quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company's stock valued at $369,186,000 after buying an additional 498,690 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position 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 valued at $332,717,000 after acquiring an additional 11,743 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.