Truist Financial Forecasts Strong Price Appreciation for Howmet Aerospace (NYSE:HWM) Stock

Howmet Aerospace (NYSE:HWM - Get Free Report) had its price target boosted by Truist Financial from $123.00 to $128.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 15.08% from the company's previous close.

Several other brokerages have also issued reports on HWM. Robert W. Baird lifted their price target on Howmet Aerospace from $84.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. KeyCorp lowered Howmet Aerospace from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. BTIG Research lifted their price target on Howmet Aerospace from $95.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Finally, Sanford C. Bernstein lifted their price target on Howmet Aerospace from $113.00 to $127.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $109.75.

Howmet Aerospace Stock Performance

Shares of NYSE HWM traded down $3.63 during mid-day trading on Thursday, hitting $111.23. The company had a trading volume of 2,607,251 shares, compared to its average volume of 2,957,168. The company has a market capitalization of $45.40 billion, a price-to-earnings ratio of 49.43, a P/E/G ratio of 1.45 and a beta of 1.46. Howmet Aerospace has a 1 year low of $47.88 and a 1 year high of $115.38. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock's 50-day moving average price is $99.75 and its 200-day moving average price is $88.76.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.85 billion. On average, sell-side analysts forecast that Howmet Aerospace will post 2.59 earnings per share for the current year.

Insider Activity at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the transaction, the executive vice president now owns 92,687 shares in the company, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the company's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lone Pine Capital LLC purchased a new stake in shares of Howmet Aerospace in the 2nd quarter worth approximately $284,539,000. Price T Rowe Associates Inc. MD grew its stake in shares of Howmet Aerospace by 28.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company's stock worth $966,959,000 after buying an additional 3,158,186 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Howmet Aerospace by 18.7% in the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company's stock worth $1,223,358,000 after buying an additional 2,813,911 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Howmet Aerospace by 986.0% in the 1st quarter. TD Asset Management Inc now owns 2,697,449 shares of the company's stock worth $184,586,000 after buying an additional 2,449,057 shares during the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Howmet Aerospace in the 1st quarter worth approximately $148,996,000. 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.