Wells Fargo & Company Reiterates Equal Weight Rating for Howmet Aerospace (NYSE:HWM)

Howmet Aerospace (NYSE:HWM)‘s stock had its “equal weight” rating restated by equities researchers at Wells Fargo & Company in a research report issued on Tuesday,Benzinga reports. They presently have a $118.00 price target on the stock, down from their previous price target of $132.00. Wells Fargo & Company‘s target price suggests a potential downside of 7.34% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Northcoast Research raised Howmet Aerospace from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. Barclays increased their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Morgan Stanley boosted their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Truist Financial reissued a “buy” rating and set a $140.00 price objective (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. upped their target price on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $122.50.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $127.35 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The stock’s fifty day moving average is $128.79 and its 200 day moving average is $118.35. The firm has a market capitalization of $51.58 billion, a PE ratio of 45.16, a PEG ratio of 1.92 and a beta of 1.25. Howmet Aerospace has a fifty-two week low of $62.80 and a fifty-two week high of $140.55.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. On average, sell-side analysts anticipate that Howmet Aerospace will post 3.27 earnings per share for the current year.

Hedge Funds Weigh In On Howmet Aerospace

Hedge funds have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. increased its holdings in Howmet Aerospace by 208.1% in the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after acquiring an additional 154 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Howmet Aerospace during the fourth quarter worth $25,000. R Squared Ltd purchased a new position in Howmet Aerospace during the fourth quarter valued at $26,000. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

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.