TD Cowen Raises Huntington Ingalls Industries (NYSE:HII) Price Target to $460.00

Key Points

• TD Cowen raised its price target on Huntington Ingalls Industries to $460 (from $440) and carries a "buy" rating, implying about a 7.53% upside from the stock's current price.
• Other broker activity is mixed but generally positive — Citigroup lifted its target to $465 and six analysts rate HII a Buy while five rate it Hold, leaving a consensus target of about $384.13 ("Moderate Buy").
• HII traded up to $427.77 after reporting a quarterly earnings beat (EPS $4.04 vs. $3.72) and 15.7% revenue growth to $3.48 billion, with a market cap around $16.8 billion.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) had its price objective increased by TD Cowen from $440.00 to $460.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the aerospace company's stock. TD Cowen's price target suggests a potential upside of 7.53% from the stock's current price.

A number of other equities analysts have also commented on HII. Melius Research raised shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a research note on Monday, January 5th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $421.00 target price on shares of Huntington Ingalls Industries in a research report on Wednesday, February 11th. Citigroup upped their price target on Huntington Ingalls Industries from $450.00 to $465.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Wall Street Zen downgraded Huntington Ingalls Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 31st. Finally, Bank of America upgraded Huntington Ingalls Industries from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $300.00 to $400.00 in a research report on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $384.13.

Huntington Ingalls Industries Trading Up 1.6%

HII traded up $6.60 during trading on Friday, reaching $427.77. The company had a trading volume of 138,381 shares, compared to its average volume of 594,768. The firm's 50-day simple moving average is $407.27 and its 200 day simple moving average is $335.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.13. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.78 and a beta of 0.32. Huntington Ingalls Industries has a 12-month low of $177.42 and a 12-month high of $460.00.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its earnings results on Thursday, February 5th. The aerospace company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.72 by $0.32. The company had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.09 billion. Huntington Ingalls Industries had a net margin of 4.85% and a return on equity of 12.28%. The business's revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the company posted $3.15 earnings per share. Equities research analysts anticipate that Huntington Ingalls Industries will post 13.99 earnings per share for the current year.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, EVP Eric D. Chewning sold 1,700 shares of the company's 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 transaction, the executive vice president directly owned 1,949 shares of the company's stock, valued at $844,774.56. This represents a 46.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Ingalls Industries

Hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. grew its position in Huntington Ingalls Industries by 87.2% in the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock worth $30,000 after acquiring an additional 41 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Huntington Ingalls Industries in the 2nd quarter valued at $25,000. Rakuten Securities Inc. boosted its holdings in Huntington Ingalls Industries by 140.0% in the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Versant Capital Management Inc increased its position in Huntington Ingalls Industries by 120.0% during the third quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company's stock worth $32,000 after buying an additional 60 shares during the last quarter. Finally, Motiv8 Investments LLC bought a new position in Huntington Ingalls Industries during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 90.46% of the company's stock.

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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