Robert W. Baird Increases Howmet Aerospace (NYSE:HWM) Price Target to $84.00

Howmet Aerospace (NYSE:HWM) had its price target upped by investment analysts at Robert W. Baird from $74.00 to $84.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 6.48% from the stock’s previous close.

A number of other analysts also recently commented on HWM. Truist Financial raised Howmet Aerospace from a “hold” rating to a “buy” rating and increased their price target for the company from $47.00 to $74.00 in a research report on Wednesday, January 10th. Benchmark reaffirmed a “buy” rating and set a $53.00 price target on shares of Howmet Aerospace in a research report on Friday, April 19th. The Goldman Sachs Group increased their price target on Howmet Aerospace from $65.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada began coverage on Howmet Aerospace in a research report on Monday, March 18th. They set an “outperform” rating and a $75.00 price target for the company. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.77.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $78.89 on Friday. The company has a market cap of $32.22 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41. Howmet Aerospace has a 52 week low of $42.17 and a 52 week high of $79.47. The business has a 50 day moving average price of $66.70 and a 200-day moving average price of $57.97. 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 (NYSE:HWM) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.74 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. Equities analysts anticipate that Howmet Aerospace will post 2.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Howmet Aerospace by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after purchasing an additional 1,274,974 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Howmet Aerospace by 4.0% in 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 purchasing an additional 897,463 shares in the last quarter. FMR LLC boosted its stake 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. boosted its stake 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 stake in Howmet Aerospace during the fourth quarter valued at $508,006,000. 90.46% of the stock is currently 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.