Huntington Ingalls Industries (NYSE:HII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $266.00 price target on the aerospace company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.51% from the company’s current price.
According to Zacks, “Being the nation's largest military shipbuilder, Huntington Ingalls continues to boast stable financials and regular cash returns to shareholders. It is the sole designer and manufacturer of nuclear powered aircraft carriers in the United States, with more than 70% of the active U.S. Navy fleet consisting of Huntington Ingalls ships. Its solid capital resources fund operations, which allow the company to consistently generate improved cash flow. However, Huntington Ingalls' limited commercial exposure and high dependence on the government might dent margins amid uncertain U.S. defense spending trends.”
A number of other research analysts have also recently commented on HII. ValuEngine upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Citigroup reiterated a “neutral” rating and issued a $233.00 price target (up from $224.00) on shares of Huntington Ingalls Industries in a research note on Monday, October 9th. Cowen reiterated a “hold” rating and issued a $225.00 price target on shares of Huntington Ingalls Industries in a research note on Friday, October 6th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $241.00 price target (up from $211.00) on shares of Huntington Ingalls Industries in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Huntington Ingalls Industries currently has a consensus rating of “Hold” and a consensus price target of $220.29.
Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings results on Wednesday, November 8th. The aerospace company reported $3.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.49. Huntington Ingalls Industries had a return on equity of 33.37% and a net margin of 8.31%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the company earned $2.27 EPS. Huntington Ingalls Industries’s revenue was up 10.7% compared to the same quarter last year. research analysts anticipate that Huntington Ingalls Industries will post 12.09 earnings per share for the current fiscal year.
Huntington Ingalls Industries declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Philip M. Bilden bought 2,200 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was acquired at an average cost of $234.11 per share, with a total value of $515,042.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP D R. Wyatt sold 800 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $240.33, for a total value of $192,264.00. Following the transaction, the vice president now directly owns 19,065 shares of the company’s stock, valued at $4,581,891.45. The disclosure for this sale can be found here. 2.22% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Cetera Investment Advisers bought a new position in Huntington Ingalls Industries during the 2nd quarter worth $281,000. Schwab Charles Investment Management Inc. raised its position in Huntington Ingalls Industries by 1.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,858 shares of the aerospace company’s stock worth $28,643,000 after purchasing an additional 2,062 shares during the last quarter. Shelton Capital Management bought a new position in Huntington Ingalls Industries during the 2nd quarter worth $644,000. Artemis Investment Management LLP raised its position in shares of Huntington Ingalls Industries by 63.6% in the 3rd quarter. Artemis Investment Management LLP now owns 93,219 shares of the aerospace company’s stock worth $21,112,000 after acquiring an additional 36,233 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Huntington Ingalls Industries by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 93,672 shares of the aerospace company’s stock worth $21,208,000 after acquiring an additional 5,162 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.
Huntington Ingalls Industries Company Profile
Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.
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