Hormel Foods Corp. Reaches New 12-Month High at $44.09 (HRL)
Hormel Foods Corp. (NYSE:HRL)’s share price reached a new 52-week high during trading on Wednesday, American Banking News reports. The stock traded as high as $44.09 and last traded at $44.10, with a volume of 534,480 shares traded. The stock had previously closed at $43.24.
A number of analysts have recently weighed in on HRL shares. Analysts at Zacks reiterated a “neutral” rating on shares of Hormel Foods Corp. (NYSE:HRL) in a research note to investors on Tuesday, September 3rd. They now have a $44.00 price target on the stock. Separately, analysts at Janney Montgomery Scott raised their price target on shares of Hormel Foods Corp. (NYSE:HRL) from $32.00 to $37.00 in a research note to investors on Friday, August 23rd. They now have a “sell” rating on the stock. Finally, analysts at Credit Suisse upgraded shares of Hormel Foods Corp. (NYSE:HRL) from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, July 29th. They now have a $46.00 price target on the stock, up previously from $39.00.
One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $44.11.
Hormel Foods Corp. has a 1-year low of $28.45 and a 1-year high of $44.13. The stock’s 50-day moving average is $42. and its 200-day moving average is $40.92. The company has a market cap of $11.645 billion and a P/E ratio of 23.25.
Hormel Foods Corp. (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.03. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts expect that Hormel Foods Corp. will post $1.92 EPS for the current fiscal year.
Hormel Foods Corporation is primarily engaged in the production of a variety of meat and food products and the marketing of those products throughout the United States and internationally.
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