Huntington Ingalls Industries Inc (HII) is Downgraded by Wells Fargo to Market Perform

Huntington Ingalls Industries Inc (HII) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Aug 5, 2016.

Many Wall Street Analysts have commented on Huntington Ingalls Industries Inc. Stifel Downgraded Huntington Ingalls Industries Inc on May 24, 2016 to ” Sell”, Price Target of the shares are set at $135.Company shares were Reiterated by Barclays on May 9, 2016 to “Underweight”, Firm has raised the Price Target to $ 135 from a previous price target of $125 .

On the company’s financial health, Huntington Ingalls Industries Inc reported $2.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $2.30. The company had revenue of $1700.00 million for the quarter, compared to analysts expectations of $1732.43 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.99 EPS.

Huntington Ingalls Industries Inc closed down -1.3 points or -0.75% at $172.79 with 4,60,925 shares getting traded on Thursday. Post opening the session at $174.09, the shares hit an intraday low of $172.1 and an intraday high of $177.1023 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Investors should note that on Jul 27, 2016, Huntington Ingalls Industries Inc announced a cash dividend of $0.5000. The company’s management has announced Aug 24, 2016 as the ex-dividend date and fixed the record date on Aug 26, 2016. The payable date has been fixed on Sep 9, 2016.

In a different news, on Jul 6, 2016, Jerri F Dickseski (Corp. VP, Communications) sold 750 shares at $169.34 per share price. According to the SEC, on May 11, 2016, D R Wyatt (Corp VP & Treasurer) sold 1,000 shares at $154.52 per share price. On May 11, 2016, William R Ermatinger (Corp. VP, Chief HR Officer) sold 7,933 shares at $154.13 per share price, according to the Form-4 filing with the securities and exchange commission.

Huntington Ingalls Industries Inc. (HII) designs builds overhauls and repairs ships for the United States Navy and the United States Coast Guard. The Company is the designer builder and refueler of nuclear powered aircraft carriers the builder of amphibious assault and expeditionary warfare ships for the United States Navy and the sole builder of National Security Cutters for the United States Coast Guard. The Company designs and builds nuclear-powered submarines for the United States Navy and builds the Navy’s fleet of DDG51 Arleigh Burke-class destroyers. The Company operates its shipbuilding business through Huntington Ingalls Incorporated subsidiary which is organized into two segments: Ingalls Shipbuilding (Ingalls) which includes non-nuclear ship design construction repair and maintenance businesses and Newport News Shipbuilding (Newport News) which includes the nuclear ship design construction overhaul refueling and repair and maintenance businesses.

Huntington Ingalls Industries Inc

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