Howmet Aerospace (NYSE:HWM) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has a $36.00 price objective on the stock. Zacks Investment Research's price objective would suggest a potential upside of 13.17% from the stock's previous close.
According to Zacks, "Howmet Aerospace Inc. is a provider of advanced engineered solutions for the aerospace and transportation industries. The Company's primary businesses focus on jet engine components, aerospace fastening systems and titanium structural parts for aerospace and defense applications, as well as forged wheels for commercial transportation. Howmet Aerospace Inc., formerly known as Arconic Inc, is based in Pittsburgh, Pennsylvania. "
Several other equities analysts also recently issued reports on HWM. KeyCorp upped their price objective on shares of Howmet Aerospace from $36.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, March 24th. Credit Suisse Group reduced their price objective on shares of Howmet Aerospace from $34.00 to $32.00 and set an "outperform" rating on the stock in a research note on Thursday, February 4th. JPMorgan Chase & Co. increased their price target on shares of Howmet Aerospace from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, The Goldman Sachs Group initiated coverage on shares of Howmet Aerospace in a research note on Sunday, December 13th. They set a "buy" rating and a $34.00 price target on the stock. Eleven analysts have rated the stock with a buy rating, Howmet Aerospace presently has a consensus rating of "Buy" and a consensus price target of $31.50.
Shares of HWM stock traded up $0.01 during trading hours on Thursday, hitting $31.81. The company's stock had a trading volume of 1,816,463 shares, compared to its average volume of 3,555,400. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 1.36. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 30.30 and a beta of 1.98. The business has a fifty day moving average of $30.58 and a 200-day moving average of $25.28. Howmet Aerospace has a twelve month low of $9.87 and a twelve month high of $32.96.
Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Tuesday, February 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. Howmet Aerospace had a net margin of 5.16% and a return on equity of 16.55%. The company's quarterly revenue was down 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. On average, equities analysts expect that Howmet Aerospace will post 0.73 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in HWM. Berman Capital Advisors LLC increased its position in shares of Howmet Aerospace by 476.0% in the fourth quarter. Berman Capital Advisors LLC now owns 887 shares of the company's stock worth $25,000 after acquiring an additional 733 shares in the last quarter. Key Financial Inc acquired a new stake in shares of Howmet Aerospace in the fourth quarter worth $28,000. Ellevest Inc. increased its position in shares of Howmet Aerospace by 436.3% in the fourth quarter. Ellevest Inc. now owns 1,094 shares of the company's stock worth $31,000 after acquiring an additional 890 shares in the last quarter. Veriti Management LLC acquired a new stake in shares of Howmet Aerospace in the fourth quarter worth $36,000. Finally, Vantage Consulting Group Inc acquired a new stake in shares of Howmet Aerospace in the fourth quarter worth $44,000. 86.52% of the stock is owned by institutional investors.
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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