Chart Of The Day: Howmet Aerospace - Is The Sky The Limit?

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The Chart of the Day belongs to the aerospace & defense company Howmet Aerospace (HWM). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 1/ 10 the stock gained 20.14%.

(Click on image to enlarge)

HWM Price vs Daily Moving Averages

Howmet Aerospace Inc. provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment offers airfoils and seamless rolled rings primarily for aircraft engines and industrial gas turbines; and rotating and structural parts. The Fastening Systems segment produces aerospace fastening systems, as well as commercial transportation, industrial, and other fasteners; and latches, bearings, fluid fittings, and installation tools. The Engineered Structures segment provides titanium ingots and mill products, aluminum and nickel forgings, and machined components and assemblies for aerospace and defense applications; and titanium forgings, extrusions, and forming and machining services for airframe, wing, aero-engine, and landing gear components. The Forged Wheels segment offers forged aluminum wheels and related products for heavy-duty trucks and commercial transportation markets. The company was formerly known as Arconic Inc. Howmet Aerospace Inc. was founded in 1888 and is based in Pittsburgh, Pennsylvania.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
 

Barchart Technical Indicators:

  • 100% technical buy signals
  • 64.98+ Weighted Alpha
  • 58.27% gain in the last year
  • Trend Seeker buy signal
  • Above its 20, 50 and 100 day moving averages
  • 17 new highs and up 20.44% in the last month
  • Relative Strength Index 85.87%
  • Technical support level at $65.50
  • Recently traded at $66.76 with 50 day moving average of $57.26
     

Fundamental Factors:

  • Market Cap 27.07 billion
  • P/E 35.60
  • Dividend yield .27%
  • Wall Street projects Revenue will grow 7.90% this year and grow another 9.10% next year
  • Earnings are estimated to increase 20.10% this year, increase an additional 21.30% next year and continue to compound at an annual rate of 19.49% for the next 5 years

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

  • Wall Street analysts issued 14 strong buy, 4 buy, 2 hold and 1 sell recommendation this month
  • Analysts price targets are $53 to $75 - consensus price target $68
  • Value Line rates the stock it's average rating of 3 but has a price target of $78 for a 20% gain
  • CFRAs MarketScope has a2 star sell rating

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Disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are ...

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