Citigroup Cuts Huntington Ingalls Industries (NYSE:HII) Price Target to $405.00

Huntington Ingalls Industries (NYSE:HII) had its target price cut by Citigroup from $441.00 to $405.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective suggests a potential upside of 22.79% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. TD Cowen decreased their target price on Huntington Ingalls Industries from $460.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group lifted their target price on Huntington Ingalls Industries from $384.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Bank of America upgraded Huntington Ingalls Industries from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $300.00 to $400.00 in a report on Thursday, February 12th. Wells Fargo & Company assumed coverage on Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 target price on the stock. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $421.00 target price on shares of Huntington Ingalls Industries in a report on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $388.50.

Huntington Ingalls Industries Price Performance

Shares of HII stock traded up $3.67 during mid-day trading on Monday, hitting $329.84. 113,384 shares of the stock traded hands, compared to its average volume of 556,825. Huntington Ingalls Industries has a twelve month low of $215.04 and a twelve month high of $460.00. The firm has a market cap of $13.00 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.38 and a beta of 0.29. The company’s 50-day simple moving average is $383.51 and its 200-day simple moving average is $371.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.19.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.09. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the firm earned $3.79 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities research analysts expect that Huntington Ingalls Industries will post 17.29 earnings per share for the current year.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, VP Chad N. Boudreaux sold 4,400 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $422.45, for a total value of $1,858,780.00. Following the completion of the sale, the vice president owned 20,360 shares of the company’s stock, valued at $8,601,082. This trade represents a 17.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Eric D. Chewning sold 1,700 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total value of $736,848.00. Following the completion of the sale, the executive vice president directly owned 1,949 shares of the company’s stock, valued at approximately $844,774.56. This trade represents a 46.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

Institutional Trading of Huntington Ingalls Industries

Several hedge funds and other institutional investors have recently modified their holdings of the business. Personal CFO Solutions LLC boosted its position in Huntington Ingalls Industries by 3.7% during the first quarter. Personal CFO Solutions LLC now owns 775 shares of the aerospace company’s stock valued at $294,000 after purchasing an additional 28 shares during the last quarter. TriaGen Wealth Management LLC boosted its position in Huntington Ingalls Industries by 1.6% during the fourth quarter. TriaGen Wealth Management LLC now owns 1,971 shares of the aerospace company’s stock valued at $670,000 after purchasing an additional 31 shares during the last quarter. CI Investments Inc. boosted its position in Huntington Ingalls Industries by 16.7% during the third quarter. CI Investments Inc. now owns 231 shares of the aerospace company’s stock valued at $67,000 after purchasing an additional 33 shares during the last quarter. Intrust Bank NA boosted its position in Huntington Ingalls Industries by 4.5% during the fourth quarter. Intrust Bank NA now owns 821 shares of the aerospace company’s stock valued at $279,000 after purchasing an additional 35 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its position in Huntington Ingalls Industries by 1.7% during the fourth quarter. Oakworth Capital Inc. now owns 2,205 shares of the aerospace company’s stock valued at $750,000 after purchasing an additional 36 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

About Huntington Ingalls Industries

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.