Royal Bank of Canada Raises Howmet Aerospace (NYSE:HWM) Price Target to $90.00

Howmet Aerospace (NYSE:HWM) had its price objective boosted by investment analysts at Royal Bank of Canada from $75.00 to $90.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 14.08% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. UBS Group raised their price target on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Robert W. Baird lifted their target price on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday. KeyCorp lifted their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Finally, Barclays raised their price target on shares of Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.77.

Howmet Aerospace Price Performance

HWM stock opened at $78.89 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. Howmet Aerospace has a 12 month low of $42.17 and a 12 month high of $79.47. The firm has a market cap of $32.22 billion, a P/E ratio of 38.11, a P/E/G ratio of 1.86 and a beta of 1.41. The company’s 50-day moving average price is $66.70 and its two-hundred day moving average price is $57.97.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts anticipate that Howmet Aerospace will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Howmet Aerospace

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Howmet Aerospace by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after acquiring an additional 1,274,974 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Howmet Aerospace by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 23,507,379 shares of the company’s stock valued at $1,087,216,000 after buying an additional 897,463 shares during the period. FMR LLC grew its position in Howmet Aerospace by 21.2% during the third quarter. FMR LLC now owns 15,086,149 shares of the company’s stock valued at $697,734,000 after buying an additional 2,635,894 shares during the period. JPMorgan Chase & Co. grew its position in Howmet Aerospace by 118.7% during the third quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock valued at $612,307,000 after buying an additional 7,184,620 shares during the period. Finally, Norges Bank bought a new position in Howmet Aerospace during the fourth quarter valued at about $508,006,000. 90.46% of the stock is owned by hedge funds and other 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.