Howmet Aerospace (NYSE:HWM) Reaches New 12-Month High – Still a Buy?

Howmet Aerospace Inc. (NYSE:HWM)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $128.95 and last traded at $126.95, with a volume of 11484 shares changing hands. The stock had previously closed at $125.30.

Analysts Set New Price Targets

A number of brokerages have issued reports on HWM. KeyCorp downgraded Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Barclays lifted their price objective on shares of Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. UBS Group increased their target price on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird increased their price objective on shares of Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Howmet Aerospace Trading Up 1.6 %

The firm has a market cap of $51.70 billion, a price-to-earnings ratio of 48.57, a PEG ratio of 1.41 and a beta of 1.49. The company has a fifty day moving average price of $114.99 and a 200-day moving average price of $102.17. The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76.

Institutional Investors Weigh In On Howmet Aerospace

Large investors have recently made changes to their positions in the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Howmet Aerospace by 30.7% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 299,377 shares of the company’s stock valued at $33,015,000 after buying an additional 70,313 shares during the period. Brighton Jones LLC grew its position in Howmet Aerospace by 5.4% in the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company’s stock worth $279,000 after acquiring an additional 130 shares during the period. Raleigh Capital Management Inc. increased its stake in Howmet Aerospace by 16.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,396 shares of the company’s stock worth $153,000 after acquiring an additional 198 shares during the last quarter. SMI Advisory Services LLC purchased a new stake in Howmet Aerospace in the fourth quarter valued at $221,000. Finally, Wesbanco Bank Inc. purchased a new stake in Howmet Aerospace in the fourth quarter valued at $581,000. 90.46% of the stock is currently owned by hedge funds and other 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.