Truist slashes price target on Howmet Aerospace Inc. [HWM] – find out why.

Howmet Aerospace Inc. [NYSE: HWM] loss -2.70% or -0.89 points to close at $32.11 with a heavy trading volume of 3845297 shares. The company report on October 10, 2022 that Howmet Aerospace to Host Webcast and Announce Third Quarter 2022 Results.


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Howmet Aerospace Inc. (NYSE:HWM) will announce its third quarter 2022 financial results on Monday, October 31, 2022. The press release and presentation materials will be available at approximately 7:00 AM ET on October 31, 2022, via the “Investors” section of the Howmet Aerospace website. A link to the press release will also be available via the Howmet Aerospace Twitter handle @HowmetAerospace at https://twitter.com/HowmetAerospace.

The conference call and webcast will begin at 10:00 AM ET. Details of both follow.

It opened the trading session at $32.72, the shares rose to $32.85 and dropped to $31.705, the range by which the price of stock traded the whole day. The daily chart for HWM points out that the company has recorded -7.41% loss over the past six months. However, it is still -17.15% lower than its most recent low trading price.

If we look at the average trading volume of 2.81M shares, HWM reached to a volume of 3845297 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Howmet Aerospace Inc. [HWM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HWM shares is $42.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HWM stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Howmet Aerospace Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 12, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Outperform. The new note on the price target was released on October 11, 2022, representing the official price target for Howmet Aerospace Inc. stock. Previously, the target price had yet another raise to $40, while BofA Securities analysts kept a Buy rating on HWM stock.

The Average True Range (ATR) for Howmet Aerospace Inc. is set at 1.10, with the Price to Sales ratio for HWM stock in the period of the last 12 months amounting to 2.58. The Price to Book ratio for the last quarter was 3.98, with the Price to Cash per share for the same quarter was set at 1.27. Price to Free Cash Flow for HWM in the course of the last twelve months was 39.68 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for HWM stock

Howmet Aerospace Inc. [HWM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.66. With this latest performance, HWM shares dropped by -8.78% in over the last four-week period, additionally sinking by -7.41% over the last 6 months – not to mention a rise of 2.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HWM stock in for the last two-week period is set at 41.48, with the RSI for the last a single of trading hit 41.45, and the three-weeks RSI is set at 42.05 for Howmet Aerospace Inc. [HWM]. The present Moving Average for the last 50 days of trading for this stock 35.17, while it was recorded at 32.76 for the last single week of trading, and 34.37 for the last 200 days.

Howmet Aerospace Inc. [HWM]: A deeper dive into fundamental analysis

Howmet Aerospace Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 2.10.

Howmet Aerospace Inc. [HWM]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HWM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Howmet Aerospace Inc. go to 28.40%.

An analysis of insider ownership at Howmet Aerospace Inc. [HWM]

There are presently around $12,199 million, or 92.00% of HWM stock, in the hands of institutional investors. The top three institutional holders of HWM stocks are: VANGUARD GROUP INC with ownership of 41,447,236, which is approximately 1.299% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 41,092,377 shares of the stock with an approximate value of $1.32 billion in HWM stocks shares; and ELLIOTT INVESTMENT MANAGEMENT L.P., currently with $1.32 billion in HWM stock with ownership of nearly 0% of the company’s market capitalization.

238 institutional holders increased their position in Howmet Aerospace Inc. [NYSE:HWM] by around 20,825,988 shares. Additionally, 218 investors decreased positions by around 17,874,590 shares, while 111 investors held positions by with 341,197,358 shares. The mentioned changes placed institutional holdings at 379,897,936 shares, according to the latest SEC report filing. HWM stock had 63 new institutional investments in for a total of 4,895,004 shares, while 69 institutional investors sold positions of 3,496,983 shares during the same period.

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