Hormel Foods Corporation (NYSE: HRL)’s stock price has increased by 0.33 compared to its previous closing price of 39.31. however, the company has experienced a -1.96% decrease in its stock price over the last five trading days. Barron’s reported on 03/02/23 that Hormel Foods Stock Falls. It’s Feeling ‘Persistent’ Inflation.
Is It Worth Investing in Hormel Foods Corporation (NYSE: HRL) Right Now?
The price-to-earnings ratio for Hormel Foods Corporation (NYSE: HRL) is 22.18x, which is above its average ratio. Moreover, the 36-month beta value for HRL is 0.19. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 0 as “overweight,” 8 as “hold,” and 2 as “sell.”
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The average price recommended by analysts for Hormel Foods Corporation (HRL) is $42.66, which is $3.8 above the current market price. The public float for HRL is 287.16M and currently, short sellers hold a 3.17% of that float. On March 16, 2023, HRL’s average trading volume was 1.81M shares.
HRL’s Market Performance
HRL stock saw a decrease of -1.96% in the past week, with a monthly decline of -13.07% and a quarterly a decrease of -16.41%. The volatility ratio for the week is 1.90%, and the volatility levels for the last 30 days are 1.68% for Hormel Foods Corporation (HRL). The simple moving average for the last 20 days is -7.83% for HRL stock, with a simple moving average of -15.26% for the last 200 days.
Analysts’ Opinion of HRL
Many brokerage firms have already submitted their reports for HRL stocks, with JP Morgan repeating the rating for HRL by listing it as a “Underweight.” The predicted price for HRL in the upcoming period, according to JP Morgan is $38 based on the research report published on March 03rd of the current year 2023.
Goldman, on the other hand, stated in their research note that they expect to see HRL reach a price target of $44. The rating they have provided for HRL stocks is “Sell” according to the report published on March 15th, 2022.
Argus gave a rating of “Buy” to HRL, setting the target price at $57 in the report published on March 10th of the previous year.
HRL Trading at -11.06% from the 50-Day Moving Average
After a stumble in the market that brought HRL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -28.43% of loss for the given period.
Volatility was left at 1.68%, however, over the last 30 days, the volatility rate increased by 1.90%, as shares sank -12.34% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.41% lower at present.
During the last 5 trading sessions, HRL fell by -1.96%, which changed the moving average for the period of 200-days by -18.55% in comparison to the 20-day moving average, which settled at $42.51. In addition, Hormel Foods Corporation saw -13.41% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at HRL starting from Connor Patrick J, who sale 1,577 shares at the price of $46.88 back on Dec 14. After this action, Connor Patrick J now owns 22,682 shares of Hormel Foods Corporation, valued at $73,930 using the latest closing price.
Snee James P, the CHAIRMAN, PRESIDENT AND CEO of Hormel Foods Corporation, sale 31,283 shares at $47.66 during a trade that took place back on Dec 08, which means that Snee James P is holding 234,999 shares at $1,490,854 based on the most recent closing price.
Stock Fundamentals for HRL
Current profitability levels for the company are sitting at:
- +10.04 for the present operating margin
- +17.09 for the gross margin
The net margin for Hormel Foods Corporation stands at +8.03. Equity return is now at value 13.10, with 7.40 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 2.47.
Conclusion
To wrap up, the performance of Hormel Foods Corporation (HRL) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
