UBS Group Has Lowered Expectations for Howmet Aerospace (NYSE:HWM) Stock Price

Howmet Aerospace (NYSE:HWM) had its target price reduced by equities research analysts at UBS Group from $255.00 to $230.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s target price would indicate a potential upside of 15.33% from the stock’s previous close.

Several other equities analysts have also recently weighed in on HWM. JPMorgan Chase & Co. lifted their price objective on shares of Howmet Aerospace from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Wells Fargo & Company reduced their target price on Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating for the company in a report on Wednesday, September 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $350.00 price objective on shares of Howmet Aerospace in a report on Monday. Zacks Research cut Howmet Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Finally, BTIG Research upped their target price on shares of Howmet Aerospace from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus target price of $295.95.

Howmet Aerospace Stock Up 0.1%

Shares of HWM opened at $199.43 on Friday. The firm has a market cap of $79.31 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 1.75 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 1.86 and a debt-to-equity ratio of 0.70. Howmet Aerospace has a fifty-two week low of $183.52 and a fifty-two week high of $310.00. The company’s fifty day moving average is $229.00 and its two-hundred day moving average is $248.49.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.09. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.59 billion. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. Analysts forecast that Howmet Aerospace will post 5.45 earnings per share for the current year.

Hedge Funds Weigh In On Howmet Aerospace

Institutional investors and hedge funds have recently modified their holdings of the stock. Man Group plc acquired a new stake in Howmet Aerospace in the 2nd quarter valued at $104,566,000. Assenagon Asset Management S.A. increased its holdings in Howmet Aerospace by 128.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 748,791 shares of the company’s stock worth $169,362,000 after acquiring an additional 421,300 shares during the last quarter. State Street Corp boosted its holdings in Howmet Aerospace by 3.3% in the 2nd quarter. State Street Corp now owns 18,933,928 shares of the company’s stock worth $5,090,576,000 after buying an additional 612,866 shares during the period. HighTower Advisors LLC boosted its position in shares of Howmet Aerospace by 14.9% in the second quarter. HighTower Advisors LLC now owns 68,260 shares of the company’s stock valued at $18,352,000 after acquiring an additional 8,829 shares during the period. Finally, Moore Capital Management LP purchased a new position in Howmet Aerospace during the second quarter worth about $6,178,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Company Profile

Howmet Aerospace Inc (NYSE:HWM) is a global manufacturer of advanced engineered products and materials primarily serving the aerospace, defense, commercial transportation and industrial markets. The company develops components designed to operate in demanding environments where strength, durability and weight reduction are important.

Howmet’s product portfolio includes aircraft engine components, airframe structures, titanium and nickel-based forgings, fastening systems and wheels for commercial vehicles.