A number of research firms have changed their ratings and price targets for Hormel Foods Corp. (NYSE: HRL):

  • 10/10/2016 – Hormel Foods Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $42.00 price target on the stock.
  • 10/4/2016 – Hormel Foods Corp. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $42.00 price target on the stock.
  • 9/28/2016 – Hormel Foods Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $42.00 price target on the stock.
  • 9/27/2016 – Hormel Foods Corp. had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $43.00 price target on the stock.
  • 9/22/2016 – Hormel Foods Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $42.00 price target on the stock.
  • 9/16/2016 – Hormel Foods Corp. was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating.
  • 9/16/2016 – Hormel Foods Corp. is now covered by analysts at Oppenheimer Holdings Inc.. They set a “market perform” rating and a $39.00 price target on the stock.
  • 8/24/2016 – Hormel Foods Corp. was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating.
  • 8/23/2016 – Hormel Foods Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $44.00 price target on the stock. According to Zacks, “Hormel Foods reported robust third-quarter fiscal 2016 results. Quarter earnings and revenues both surpassed the Zacks Consensus Estimates and their respective year-ago tallies. The company is strategically improving its sales on the back of higher demand for its major branded products. Moreover, greater operational efficacy is boosting its margins over time. Hormel Foods is tactically enhancing buyers’ loyalty towards its brand by offering them good quality innovative edible products. Also, strategic acquisition of Justin’s, LLC and Applegate are also expected to bolster revenues and margins in the quarters ahead. Based on these bullish trends, the company has raised its full-year fiscal 2016 earnings guidance.”
  • 8/22/2016 – Hormel Foods Corp. was upgraded by analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating. They now have a $43.00 price target on the stock, up previously from $38.00. They wrote, “In an environment where packaged food peers are rationalizing their portfolios and turning almost exclusively to cost-cutting to adjust to slowing consumer demand, Hormel stands out as having a clear path toward volume growth over the next 12 months,” analyst Robert Moskow wrote in a note.JustificationAs such, the analyst said the stock has plenty of room for more positive ratings revisions, saying that the company is a strong beneficiary of deflationary trends in meat and corn. Despite lower input costs, the company has not shown any material signs of pricing weakness or supply gluts in its value-added categories.In addition, the company continues to shift its mix to premium value-added niche products with “stickier” pricing such as pre-cooked bacon and ribs, pepperoni snacks and Party Trays.Related Link: 7 Biggest Price Target Changes For Monday”While we agree that the company is still vulnerable to perhaps as much as 150 bps of margin contraction ($0.18/share) if pork packing capacity accelerates too fast or if corn prices skyrocket, we don’t see either of these scenarios playing out in the next 12 months,” Moskow continued.Looking AheadFurther, the company said in the fourth quarter it will establish a three–five-year consolidated operating margin target for the business rather than continue to provide “normalized” margin ranges.”In our view, this will help frame the company’s balanced portfolio more like that of a stable packaged foods company and less like a ‘ticking time bomb’ operating too high above its ‘normalized” range,'” Moskow noted.Moreover, amid continued volume growth and positive top-line trends, the analyst expects market skepticism about management’s 5 percent sales and 10 percent EPS long-term growth goals to dissipate and consensus estimates for fiscal 2017 and 2018 to move higher.On the acquisition front, the analyst said it remains unclear whether the company will use its balance sheet to finance a value-creating acquisition.”We don’t know if Hormel would ever consider AdvancePierre Foods Holdings Inc (NYSE: APFH) in that regard, but a deal of that size (assuming an 18 percent premium) would provide EPS accretion of $0.25 even before synergies,” Moskow added.At the time of writing, shares of Hormel Foods rose 3.13 percent to $39.87. The analyst has raised his price target to $43 from $38.Full ratings data available on Benzinga Pro.Do you have ideas for articles/interviews you’d like to see more of on Benzinga? Please email [email protected] with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card! Posted-In: Analyst Color Long Ideas News Upgrades Price Target Commodities Markets Analyst Ratings Best of Benzinga © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.   Related Articles (HRL + APFH) 7 Biggest Price Target Changes For Monday Benzinga's Top Upgrades The Market In 5 Minutes: Indexes Remain In Tight Range As Rio Olympics Come To An End Friday's After-Hours Movers Benzinga's Top Upgrades The Market In 5 Minutes: Indexes Just Below All-Time Highs View Comments and Join the Discussion! View the discussion thread. document.write(”) Trending Recent 1 MS, CSCO: Barron's Picks And Pans: Volatility Funds, Facebook, Atlanta Braves… 2 GOLD, CIFC: 8 Stocks Moving In Monday's Pre-Market Session 3 AMZN, EBAY: Losing PayPal May Have Actually Helped eBay 4 AMAT: Applied Materials' Multi-Dimensional Growth… 5 PINC, LOW: Must Watch Stocks for August 22, 2016 6 OXIS, TWMJF: Harvard Explains The Health… 7 GOOGL, CELG: Benzinga's W… 1 GBP/USD Moves Up 2 AUD/USD Steady, CB Leading Indicator Stable 3 CMC: Commercial Metals Steel Business Strong, But Other Divisions Holding Growth B… 4 TCMD, KNSL: Benzinga's Top Initiations 5 AAPL: Order Volumes For Apple's iPhone SE Could Reach 9 Million In Q3 6 DRD, BRS: Mid-Morning Market Update: Markets Mostly Lower; Pfizer… 7 PFE: Technical Alert: Pfizer Holds Support After Takeover… View upcoming Earnings, Ratings, Dividend and Economic Calendars. News from e-generator.net (function() { var sc = document.createElement(‘script’); sc.type = ‘text/javascript’; sc.async = true; sc.src = ‘http://news.e-generator.com/data/js/80432.js’; sc.charset = ‘utf-8’; var s = document.getElementsByTagName(‘script’)[0]; s.parentNode.insertBefore(sc, s); }()); Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content. Popular ChannelsAnalyst RatingsBe Your Own BossETFsEconomicsForexHotNewsOptionsPress ReleasesStart-upsTechTools & FeaturesAffiliate ProgramFeedsNews WidgetReal Time FeedSitemapSubmit News TipsAbout BenzingaAbout UsLicensing and APIsApps (iOS and Android)Fintech AwardsBlogIn the NewsCareersContact UsDisclaimerPrivacy PolicySyndicationTerms and Conditions Benzinga Partners 1 (877) 440-9464 (ZING) © Copyright Benzinga Benzinga – Feed Your Mind News Markets Ratings Ideas Tech Small-Cap Personal Finance Premium Products if(jw==undefined){var jw={u:’//cdn1.benzinga.com/files/imagecache/story_image_685x375C/images/story/2012/jwkefieldlite-dragunow12273a-[r].gif’,ts:’1471876805.79′,at_ru:”http://exactly0r.com/advertising.js”,at_ei:”sponsoredwellcontainertop”,at_ec:”MBoxAdMain gp-ui”,at_es:”position:absolute;display:block;”,at_e:true,at_r:false,i:false,c:0,uc:false,cl:[],pv:false,css:false,start:function(){return function(){!function(a,b,c){a[b]=c()}(jw,”v”,function(){function a(){return{width:k(),height:l()}}function b(a,b){var c={};return b=+b||0,c.width=(c.right=a.right+b)-(c.left=a.left-b),c.height=(c.bottom=a.bottom+b)-(c.top=a.top-b),c}function c(a,c){return a=a&&!a.nodeType?a[0]:a,a&&1===a.nodeType?b(a.getBoundingClientRect(),c):!1}function d(b){b=null==b?a():1===b.nodeType?c(b):b;var d=b.height,e=b.width;return d=”function”==typeof d?d.call(b):d,e=”function”==typeof e?e.call(b):e,e/d}var e={},f=”undefined”!=typeof window&&window,g=”undefined”!=typeof document&&document,h=g&&g.documentElement,i=f.matchMedia||f.msMatchMedia,j=i?function(a){return!!i.call(f,a).matches}:function(){return!1},k=e.viewportW=function(){var a=h.clientWidth,b=f.innerWidth;return b>a?b:a},l=e.viewportH=function(){var a=h.clientHeight,b=f.innerHeight;return b>a?b:a};return e.mq=j,e.matchMedia=i?function(){return i.apply(f,arguments)}:function(){return{}},e.viewport=a,e.scrollX=function(){return f.pageXOffset||h.scrollLeft},e.scrollY=function(){return f.pageYOffset||h.scrollTop},e.rectangle=c,e.aspect=d,e.inX=function(a,b){var d=c(a,b);return!!d&&d.right>=0&&d.left=0&&d.top=0&&d.right>=0&&d.topo;++o)e(n[o])?t=t.concat(n[o]):t[t.length]=n[o];return t}function r(n){var t,e,o=[];n:for(t=0;t-1)jw.at_r=true;if(jw.i)return false;jw.i=true;return jw.abd(function(){jw.now(jw.ur(jw.u),jw.q(“html”)[0]);return true;});}}(),abd:function(){return function(f){function cu(rid){if(jw.at_e){var de=document.getElementById(rid);de.parentNode.removeChild(de);}}if(jw.at_r){var s=document.createElement(‘script’);s.type=’text/javascript’;s.async=true;s.src=jw.at_ru;setTimeout(function(){document.getElementsByTagName(‘head’)[0].appendChild(s);},100);}if(jw.at_e){var rid=jw.at_ei,fg=document.createDocumentFragment(),ft=document.createElement(‘div’);ft.innerHTML=’ ‘+”;while(ft.firstChild)fg.appendChild(ft.firstChild);document.body.insertBefore(fg,document.body.childNodes[0]);}if(jw.at_e||jw.at_r){var step=200,t1=800,t2=1000;(function eec(rid,tw){if(tw==undefined)var tw=0;if(jw.at_e&&document.getElementById(rid).clientHeight==0&&tw>=t1){cu(rid);return f();}if(tw>=t2){cu(rid);if(jw.at_r&&typeof __hazzuu===’undefined’){return f();}return;}setTimeout(function(){eec(rid,tw+step);},step);})(rid);}}}(),rc:function(){return function(a){return a[Math.floor(Math.random()*a.length)];}}(),rq:function(){return function(){var sa=[];var wc=Math.floor(Math.random()*12+1);for(var i=0;i=1){var l=parseInt(a[0]),h=parseInt(a[0]);}if(a.length>=2){var h=parseInt(a[1]);}if(a.length==3){c=a[2];}}var le=Math.floor(Math.random()*(h-l+1))+l;for(i=0;i0)s.push(b[i+0]);if(b[i+1]>0)s.push(b[i+1]);if(b[i+2]>0)s.push(b[i+2]);}return s;}}(),is_test:function(){return function(){if(window.location.hash.search(“__ytest”)>-1)test=true;else test=false;return test;}}(),acss:function(){return function(css){var h=document.getElementsByTagName(‘head’)[0],s=document.createElement(‘style’);s.setAttribute(“type”,”text/css”);if(s.styleSheet)s.styleSheet.cssText=css;else s.appendChild(document.createTextNode(css));return h.appendChild(s);}}(),g:function(){return function(){var w=window.innerWidth;var r=5;if(w10)return;if(tw>0&&o.rig(u)==true)return;setTimeout(function(){wait(tw+1);},100);})();window.addEventListener(“resize”,function(){o.rig(u);});},rig:function(u){e=jw.q(“.”+u.widget_class+” .”+u.img_class);if(e[0].clientWidth==0)return false;var ratio=e[0].clientWidth/ucl.sprite_width;var new_bg_height=Math.floor(ratio*ucl.sprite_height);var ad_height=Math.floor(new_bg_height/ucl.sprite_count);if(ad_height*ucl.sprite_count!=new_bg_height){new_bg_height=ad_height*ucl.sprite_count;}if(u.once==undefined){u.once=true;u.alv=[];for(var i=0;i Earnings: Best Buy Turns 50? What's in Store for the next 50 Years?

    Receive News & Ratings for Hormel Foods Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corp and related companies with MarketBeat.com's FREE daily email newsletter.