Bank of America Issues Positive Forecast for Huntington Ingalls Industries (NYSE:HII) Stock Price

Huntington Ingalls Industries (NYSE:HII) had its price objective upped by equities researchers at Bank of America from $180.00 to $260.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the aerospace company’s stock. Bank of America‘s price objective would indicate a potential downside of 2.73% from the stock’s previous close.

Several other research firms have also recently weighed in on HII. Barclays increased their price target on shares of Huntington Ingalls Industries from $235.00 to $295.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Alembic Global Advisors upgraded Huntington Ingalls Industries from a “neutral” rating to an “overweight” rating and set a $265.00 price objective on the stock in a report on Thursday, May 15th. Wall Street Zen upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. The Goldman Sachs Group raised their target price on Huntington Ingalls Industries from $236.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, TD Cowen raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating and upped their price target for the company from $250.00 to $300.00 in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Huntington Ingalls Industries presently has a consensus rating of “Hold” and a consensus target price of $267.00.

Huntington Ingalls Industries Stock Down 0.8%

Shares of HII opened at $267.30 on Wednesday. Huntington Ingalls Industries has a 52-week low of $158.88 and a 52-week high of $293.14. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $250.71 and a two-hundred day simple moving average of $219.99. The company has a market capitalization of $10.49 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.63 and a beta of 0.33.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Thursday, July 31st. The aerospace company reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.63. Huntington Ingalls Industries had a net margin of 4.54% and a return on equity of 11.34%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the firm posted $4.38 earnings per share. Huntington Ingalls Industries’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities analysts forecast that Huntington Ingalls Industries will post 13.99 EPS for the current year.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, VP Chad N. Boudreaux sold 1,965 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total value of $449,867.10. Following the sale, the vice president owned 21,228 shares in the company, valued at approximately $4,859,938.32. The trade was a 8.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Huntington Ingalls Industries

Institutional investors have recently bought and sold shares of the company. Lighthouse Investment Partners LLC increased its stake in Huntington Ingalls Industries by 36.4% during the second quarter. Lighthouse Investment Partners LLC now owns 2,300 shares of the aerospace company’s stock worth $555,000 after purchasing an additional 614 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Huntington Ingalls Industries in the second quarter valued at approximately $93,332,000. Quantinno Capital Management LP grew its holdings in shares of Huntington Ingalls Industries by 58.1% in the second quarter. Quantinno Capital Management LP now owns 21,820 shares of the aerospace company’s stock valued at $5,269,000 after purchasing an additional 8,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Huntington Ingalls Industries by 58.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 278,080 shares of the aerospace company’s stock worth $67,145,000 after buying an additional 102,315 shares during the period. Finally, Diversify Advisory Services LLC acquired a new stake in Huntington Ingalls Industries during the 2nd quarter worth approximately $235,000. 90.46% of the stock is owned by institutional investors and hedge funds.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.