Huntington Ingalls Industries (HII) Given a $335.00 Price Target at Bank of America

Bank of America set a $335.00 price target on Huntington Ingalls Industries (NYSE:HII) in a report published on Friday. The brokerage currently has a buy rating on the aerospace company’s stock.

Other research analysts also recently issued reports about the company. Credit Suisse Group upgraded Huntington Ingalls Industries from a neutral rating to an outperform rating and set a $241.00 target price on the stock in a research note on Friday. Cowen reiterated a buy rating and issued a $275.00 target price on shares of Huntington Ingalls Industries in a research note on Thursday. Zacks Investment Research upgraded Huntington Ingalls Industries from a hold rating to a buy rating and set a $266.00 target price on the stock in a research note on Thursday, January 11th. Finally, ValuEngine upgraded Huntington Ingalls Industries from a hold rating to a buy rating in a research note on Sunday, December 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $250.88.

Huntington Ingalls Industries (NYSE HII) traded up $10.31 on Friday, reaching $265.70. The company’s stock had a trading volume of 980,915 shares, compared to its average volume of 547,114. The firm has a market capitalization of $11,437.84, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.28 and a beta of 1.15. Huntington Ingalls Industries has a 52 week low of $183.42 and a 52 week high of $267.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.38 and a current ratio of 1.58.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, February 15th. The aerospace company reported $3.11 EPS for the quarter, topping the consensus estimate of $2.93 by $0.18. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.94 billion. Huntington Ingalls Industries had a return on equity of 31.01% and a net margin of 6.44%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.20 earnings per share. sell-side analysts predict that Huntington Ingalls Industries will post 13.35 earnings per share for the current fiscal year.

Huntington Ingalls Industries declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $2.88 annualized dividend and a dividend yield of 1.08%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is currently 27.56%.

In related news, Director Philip M. Bilden bought 2,200 shares of the stock in a transaction on Friday, November 24th. The shares were bought at an average cost of $234.11 per share, for a total transaction of $515,042.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.22% of the company’s stock.

Several institutional investors have recently bought and sold shares of HII. Cerebellum GP LLC purchased a new stake in shares of Huntington Ingalls Industries in the fourth quarter valued at approximately $100,000. Howe & Rusling Inc. boosted its stake in shares of Huntington Ingalls Industries by 4,844.4% in the third quarter. Howe & Rusling Inc. now owns 445 shares of the aerospace company’s stock valued at $101,000 after buying an additional 436 shares in the last quarter. Welch Group LLC purchased a new stake in shares of Huntington Ingalls Industries in the fourth quarter valued at approximately $101,000. Toronto Dominion Bank boosted its stake 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 buying an additional 36 shares in the last quarter. Finally, HL Financial Services LLC purchased a new stake in shares of Huntington Ingalls Industries in the fourth quarter valued at approximately $212,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.

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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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