Bank of America Issues Pessimistic Forecast for Huntington Ingalls Industries (NYSE:HII) Stock Price

Huntington Ingalls Industries (NYSE:HII - Get Free Report) had its target price cut by stock analysts at Bank of America from $250.00 to $195.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "underperform" rating on the aerospace company's stock. Bank of America's price target indicates a potential downside of 4.41% from the company's previous close.

Several other analysts have also weighed in on HII. The Goldman Sachs Group lowered their price objective on Huntington Ingalls Industries from $226.00 to $194.00 and set a "sell" rating for the company in a report on Friday, November 1st. Vertical Research downgraded shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating and set a $275.00 price objective for the company. in a report on Thursday, October 10th. TD Cowen downgraded shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating and set a $180.00 price objective for the company. in a report on Friday, November 1st. JPMorgan Chase & Co. downgraded shares of Huntington Ingalls Industries from an "overweight" rating to a "neutral" rating and upped their price target for the company from $280.00 to $285.00 in a report on Monday, September 9th. Finally, StockNews.com downgraded Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $228.89.

Huntington Ingalls Industries Stock Performance

Shares of Huntington Ingalls Industries stock traded down $0.60 on Wednesday, reaching $204.00. 405,916 shares of the stock were exchanged, compared to its average volume of 333,572. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average price of $249.45 and a two-hundred day moving average price of $255.12. Huntington Ingalls Industries has a 1-year low of $184.29 and a 1-year high of $299.50. The firm has a market capitalization of $7.98 billion, a PE ratio of 11.67, a PEG ratio of 1.74 and a beta of 0.55.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The aerospace company reported $2.56 EPS for the quarter, missing the consensus estimate of $3.84 by ($1.28). The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.87 billion. Huntington Ingalls Industries had a net margin of 5.99% and a return on equity of 16.89%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.70 earnings per share. As a group, research analysts anticipate that Huntington Ingalls Industries will post 15.41 earnings per share for the current fiscal year.

Insider Activity at Huntington Ingalls Industries

In related news, VP D R. Wyatt sold 400 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $205.24, for a total transaction of $82,096.00. Following the transaction, the vice president now directly owns 19,627 shares of the company's stock, valued at approximately $4,028,245.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Huntington Ingalls Industries

Several hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its position in Huntington Ingalls Industries by 142.8% during the third quarter. CWM LLC now owns 5,251 shares of the aerospace company's stock valued at $1,388,000 after acquiring an additional 3,088 shares during the last quarter. SteelPeak Wealth LLC purchased a new stake in shares of Huntington Ingalls Industries in the 2nd quarter valued at $1,769,000. Old North State Wealth Management LLC boosted its holdings in Huntington Ingalls Industries by 60.6% during the third quarter. Old North State Wealth Management LLC now owns 11,790 shares of the aerospace company's stock worth $3,122,000 after buying an additional 4,450 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Huntington Ingalls Industries by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 49,805 shares of the aerospace company's stock worth $14,517,000 after buying an additional 11,647 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in Huntington Ingalls Industries during the third quarter worth $47,698,000. 90.46% of the stock is owned by institutional investors.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.