Wells Fargo Sticks to Its Buy Rating for Howmet Aerospace (HWM)

Wells Fargo analyst Matthew Akers maintained a Buy rating on Howmet Aerospace (HWM – Research Report) today and set a price target of $88.00. The company’s shares closed yesterday at $82.53.

Akers covers the Industrials sector, focusing on stocks such as GE Aerospace, Raytheon Technologies, and Hexcel. According to TipRanks, Akers has an average return of 24.5% and an 84.35% success rate on recommended stocks.

Currently, the analyst consensus on Howmet Aerospace is a Strong Buy with an average price target of $83.56, which is a 1.25% upside from current levels. In a report released on May 8, Truist Financial also maintained a Buy rating on the stock with a $88.00 price target.

Based on Howmet Aerospace’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.73 billion and a net profit of $236 million. In comparison, last year the company earned a revenue of $1.51 billion and had a net profit of $111 million

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HWM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Howmet Aerospace (HWM) Company Description:

Howmet Aerospace manufactures advanced engineered solutions tailored for the aerospace, defense, and transportation sectors. It focuses on jet engine components, aerospace fastening systems, and airframe structural components. The company also manufactures forged aluminum wheels for commercial transportation.