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Research analysts at KeyCorp hoisted their price objective on shares of Hormel Foods Corp (NYSE:HRL) from $55.00 to $57.00 in a report released on Friday. KeyCorp’s price target would indicate a potential upside of 14.18% from the stock’s previous close.

Shares of Hormel Foods Corp (NYSE:HRL) opened at 49.92 on Friday. Hormel Foods Corp has a 52 week low of $40.60 and a 52 week high of $50.73. The stock has a 50-day moving average of $47.46 and a 200-day moving average of $47.57. The company has a market cap of $13.179 billion and a price-to-earnings ratio of 22.90.

Hormel Foods Corp (NYSE:HRL) last announced its earnings results on Thursday, August 21st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts predict that Hormel Foods Corp will post $2.19 earnings per share for the current fiscal year.

A number of other firms have also recently commented on HRL. Analysts at Credit Agricole downgraded shares of Hormel Foods Corp from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 2nd. Analysts at Credit Suisse downgraded shares of Hormel Foods Corp from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 2nd. They now have a $50.00 price target on the stock, up previously from $49.00. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $48.60.

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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