Howmet Aerospace (NYSE:HWM) Given New $90.00 Price Target at Royal Bank of Canada

Howmet Aerospace (NYSE:HWM) had its target price lifted by stock analysts at Royal Bank of Canada from $75.00 to $90.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 14.10% from the stock’s current price.

HWM has been the topic of several other reports. Robert W. Baird boosted their price target on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial raised their target price on Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. KeyCorp raised their target price on Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Finally, 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 note on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average target price of $69.77.

Howmet Aerospace Stock Up 2.3 %

Shares of HWM stock traded up $1.78 during trading hours on Friday, reaching $78.88. The company had a trading volume of 6,147,895 shares, compared to its average volume of 3,471,711. The company has a market capitalization of $32.21 billion, a P/E ratio of 43.22, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. The stock’s fifty day simple moving average is $66.44 and its 200 day simple moving average is $57.73. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $79.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.87 and a current ratio of 1.86.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, sell-side analysts expect that Howmet Aerospace will post 2.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Howmet Aerospace

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AE Wealth Management LLC bought a new position in Howmet Aerospace in the 3rd quarter worth about $262,000. Commonwealth Equity Services LLC boosted its holdings in Howmet Aerospace by 18.7% in the third quarter. Commonwealth Equity Services LLC now owns 47,733 shares of the company’s stock worth $2,208,000 after purchasing an additional 7,534 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its position in Howmet Aerospace by 4.0% during the third quarter. Chevy Chase Trust Holdings LLC now owns 220,120 shares of the company’s stock valued at $10,181,000 after buying an additional 8,516 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Howmet Aerospace by 3.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,617 shares of the company’s stock worth $1,324,000 after purchasing an additional 874 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Howmet Aerospace by 54.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 55,686 shares of the company’s stock valued at $2,575,000 after acquiring an additional 19,709 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Company Profile

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.