Huntington Ingalls Industries’ (HII) Buy Rating Reiterated at Cowen

Huntington Ingalls Industries (NYSE:HII)‘s stock had its “buy” rating reiterated by equities researchers at Cowen in a research report issued on Thursday. They currently have a $275.00 target price on the aerospace company’s stock. Cowen’s price objective would indicate a potential upside of 13.92% from the company’s previous close.

HII has been the subject of several other research reports. Zacks Investment Research raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating and set a $282.00 price target for the company in a research report on Friday, November 10th. Credit Suisse Group reissued a “neutral” rating and set a $241.00 price target (up previously from $211.00) on shares of Huntington Ingalls Industries in a research report on Thursday, November 9th. Finally, ValuEngine raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $227.43.

Huntington Ingalls Industries (NYSE HII) opened at $241.40 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.38 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $10,747.74, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15. Huntington Ingalls Industries has a 1 year low of $183.42 and a 1 year high of $253.44.

Huntington Ingalls Industries announced that its Board of Directors has approved a share buyback plan on Tuesday, November 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

In other Huntington Ingalls Industries news, Director Philip M. Bilden acquired 2,200 shares of the stock in a transaction dated Friday, November 24th. The stock was acquired at an average price of $234.11 per share, with a total value of $515,042.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.22% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in HII. HighTower Advisors LLC grew its position in shares of Huntington Ingalls Industries by 50.7% in the second quarter. HighTower Advisors LLC now owns 1,881 shares of the aerospace company’s stock valued at $350,000 after purchasing an additional 633 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Huntington Ingalls Industries in the second quarter valued at $963,000. The Manufacturers Life Insurance Company grew its position in shares of Huntington Ingalls Industries by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 67,912 shares of the aerospace company’s stock valued at $12,642,000 after purchasing an additional 1,208 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Huntington Ingalls Industries in the second quarter valued at $281,000. Finally, Toronto Dominion Bank grew its position in shares of Huntington Ingalls Industries by 6.8% in the second quarter. Toronto Dominion Bank now owns 565 shares of the aerospace company’s stock valued at $105,000 after purchasing an additional 36 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.

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About Huntington Ingalls Industries

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.

Analyst Recommendations for Huntington Ingalls Industries (NYSE:HII)

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