Hormel Foods Corp Upgraded to Overweight at Stephens (HRL)
Hormel Foods Corp (NYSE:HRL) was upgraded by investment analysts at Stephens from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
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’s 50-day moving average is $47.46 and its 200-day moving average is $47.57. The company has a market cap of $13.179 billion and a P/E ratio of 23.89.
Hormel Foods Corp (NYSE:HRL) last released its earnings data on Thursday, August 21st. The company reported $0.51 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.42 earnings per share. Hormel Foods Corp’s revenue was up 5.8% compared to the same quarter last year. Analysts expect that Hormel Foods Corp will post $2.19 EPS for the current fiscal year.
HRL has been the subject of a number of other recent research reports. Analysts at KeyCorp raised their price target on shares of Hormel Foods Corp from $55.00 to $57.00 in a research note on Friday. Separately, 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. Finally, 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $49.25.
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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