Wells Fargo Reiterates a Hold Rating on Huntington Ingalls

By Austin Angelo

In a report issued on November 9, Sam Pearlstein from Wells Fargo reiterated a Hold rating on Huntington Ingalls (NYSE: HII). The company’s shares opened today at $179, equals to its 52-week high of $179.

According to TipRanks.com, Pearlstein is a 3-star analyst with an average return of 3.5% and a 70.8% success rate. Pearlstein covers the Industrial Goods sector, focusing on stocks such as United Technologies Corp., General Dynamics Corp., and Lockheed Martin Corp.

Currently, the analyst consensus on Huntington Ingalls is Hold and the average price target is $160, representing a -10.6% downside.

In a report issued on November 3, Credit Suisse also reiterated a Hold rating on the stock with a $160 price target.

Based on Huntington Ingalls’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.68 billion and quarterly net profit of $107 million. In comparison, last year the company earned revenue of $1.8 billion and had a net profit of $111 million.

Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Christopher D. Kastner, the Corp VP, Corporate Development of HII sold 2,000 shares for a total of $331,780.

Huntington Ingalls Industries, Inc. engages in the shipbuilding business. It operates through the following segments: Ingalls, Newport News, and Other. The Ingalls segment develops and constructs non-nuclear ships, assault ships, and surface combatants. The Newport News segment designs, builds, and maintains nuclear-powered ships which include aircraft carriers and submarines. The Other segment pertains to the firm’s non-shipbuilding commercial activities. The company was founded on August 4, 2010 and is headquartered in Newport News, VA.