Market Analysts see Hormel Foods Corporation [HRL] gaining to $44. Time to buy?

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Hormel Foods Corporation [NYSE: HRL] loss -5.22% or -2.52 points to close at $45.76 with a heavy trading volume of 4189609 shares. The company report on June 2, 2022 that HORMEL FOODS REPORTS RECORD SALES AND DOUBLE-DIGIT EARNINGS GROWTH IN THE SECOND QUARTER.


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The company reaffirms its full-year sales expectations and narrows its earnings guidance range.

Hormel Foods Corporation (NYSE: HRL), a leading global branded food company, today reported results for the second quarter of fiscal 2022. All comparisons are to the second quarter of fiscal 2021 unless otherwise noted.

It opened the trading session at $47.66, the shares rose to $47.66 and dropped to $45.16, the range by which the price of stock traded the whole day. The daily chart for HRL points out that the company has recorded 8.80% gains over the past six months. However, it is still -13.04% lower than its most recent low trading price.

If we look at the average trading volume of 1.89M shares, HRL reached to a volume of 4189609 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Hormel Foods Corporation [HRL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HRL shares is $47.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HRL stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Hormel Foods Corporation shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 15, 2022. The new note on the price target was released on March 10, 2022, representing the official price target for Hormel Foods Corporation stock. Previously, the target price had yet another raise to $42, while JP Morgan analysts kept a Neutral rating on HRL stock.

The Average True Range (ATR) for Hormel Foods Corporation is set at 1.33, with the Price to Sales ratio for HRL stock in the period of the last 12 months amounting to 2.07. The Price to Book ratio for the last quarter was 3.50, with the Price to Cash per share for the same quarter was set at 1.56. Price to Free Cash Flow for HRL in the course of the last twelve months was 60.91 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for HRL stock

Hormel Foods Corporation [HRL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.52. With this latest performance, HRL shares dropped by -11.42% in over the last four-week period, additionally plugging by 8.80% over the last 6 months – not to mention a drop of -7.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HRL stock in for the last two-week period is set at 26.37, with the RSI for the last a single of trading hit 20.39, and the three-weeks RSI is set at 31.36 for Hormel Foods Corporation [HRL]. The present Moving Average for the last 50 days of trading for this stock 51.52, while it was recorded at 47.95 for the last single week of trading, and 47.01 for the last 200 days.

Hormel Foods Corporation [HRL]: A deeper dive into fundamental analysis

Hormel Foods Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 2.20.

Hormel Foods Corporation [HRL]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HRL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hormel Foods Corporation go to 8.50%.

An analysis of insider ownership at Hormel Foods Corporation [HRL]

There are presently around $10,628 million, or 41.60% of HRL stock, in the hands of institutional investors. The top three institutional holders of HRL stocks are: VANGUARD GROUP INC with ownership of 33,500,871, which is approximately 1.661% of the company’s market cap and around 47.30% of the total institutional ownership; BLACKROCK INC., holding 28,504,755 shares of the stock with an approximate value of $1.38 billion in HRL stocks shares; and STATE STREET CORP, currently with $1.34 billion in HRL stock with ownership of nearly -4.725% of the company’s market capitalization.

Positions in Hormel Foods Corporation stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 297 institutional holders increased their position in Hormel Foods Corporation [NYSE:HRL] by around 10,200,625 shares. Additionally, 316 investors decreased positions by around 16,166,876 shares, while 123 investors held positions by with 193,757,008 shares. The mentioned changes placed institutional holdings at 220,124,509 shares, according to the latest SEC report filing. HRL stock had 74 new institutional investments in for a total of 2,545,923 shares, while 50 institutional investors sold positions of 1,407,993 shares during the same period.

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