JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Howmet Aerospace (NYSE:HWM) Stock

Key Points

• JPMorgan Chase & Co. raised its price target for Howmet Aerospace (NYSE:HWM) from $150.00 to $190.00, suggesting a potential upside of 4.09%.
• Howmet Aerospace reported earnings of $0.91 per share for the last quarter, surpassing expectations and showing a 9.2% increase in year-over-year revenue.
• Out of 19 analysts, 15 rated the stock as a buy, collectively giving it a consensus rating of "Moderate Buy" and an average target price of $160.80.

Howmet Aerospace (NYSE:HWM - Get Free Report) had its price target hoisted by JPMorgan Chase & Co. from $150.00 to $190.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 4.09% from the stock's current price.

A number of other brokerages also recently issued reports on HWM. Vertical Research reaffirmed a "buy" rating on shares of Howmet Aerospace in a research report on Thursday. UBS Group boosted their price target on Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. BTIG Research reiterated a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Barclays upped their price target on shares of Howmet Aerospace from $140.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Howmet Aerospace in a report on Monday, June 30th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $160.80.

Howmet Aerospace Trading Down 0.9%

HWM traded down $1.73 during trading on Monday, hitting $182.53. 1,115,842 shares of the stock were exchanged, compared to its average volume of 3,084,019. Howmet Aerospace has a 1 year low of $85.39 and a 1 year high of $193.26. The firm has a 50 day simple moving average of $178.35 and a 200 day simple moving average of $149.51. The firm has a market cap of $73.68 billion, a price-to-earnings ratio of 53.41, a P/E/G ratio of 2.58 and a beta of 1.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.08 and a current ratio of 2.31.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.99 billion. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. The business's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 EPS. As a group, equities analysts expect that Howmet Aerospace will post 3.27 EPS for the current year.

Insider Activity

In related news, CEO John C. Plant sold 800,000 shares of Howmet Aerospace stock in a transaction on Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the transaction, the chief executive officer owned 236,544 shares in the company, valued at approximately $37,127,946.24. The trade was a 77.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 30,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $158.53, for a total value of $4,755,900.00. Following the completion of the transaction, the executive vice president owned 131,859 shares of the company's stock, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in Howmet Aerospace in the fourth quarter worth about $25,000. Kapitalo Investimentos Ltda acquired a new stake in Howmet Aerospace in the fourth quarter valued at approximately $30,000. Pinpoint Asset Management Ltd boosted its holdings in Howmet Aerospace by 42.8% in the first quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company's stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Hemington Wealth Management grew its stake in Howmet Aerospace by 46.6% in the 1st quarter. Hemington Wealth Management now owns 255 shares of the company's stock valued at $33,000 after buying an additional 81 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its position in shares of Howmet Aerospace by 114.6% in the first quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock valued at $34,000 after purchasing an additional 141 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

About Howmet Aerospace

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.

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