Jefferies analyst Akshay Jagdale maintained a Hold rating on Hormel Foods (HRL) today and set a price target of $44. The company’s shares closed yesterday at $42.17.
Jagdale observed:
“1Q19 operating results were generally in line and mgmt. maintained its FY19 outlook. At the segment level, JOTS outlook is weaker but this is offset by better outlook for Deli, Foodservice and International. We are tweaking our estimates to include the Cyto divestiture & new guidance commentary. HRL deserves a DD valuation premium to peers but current 28% premium prices in all the good news. As such, we remain on the side-lines.”
According to TipRanks.com, Jagdale is a 3-star analyst with an average return of 1.3% and a 49.6% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and Conagra Brands Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Hormel Foods with a $41.50 average price target, representing a -1.6% downside. In a report issued on February 21, Credit Suisse also maintained a Hold rating on the stock with a $39 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $46.26 and a one-year low of $31.99. Currently, Hormel Foods has an average volume of 3.26M.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2018, James Sheehan, the Senior V.P. & CFO of HRL sold 60,000 shares for a total of $2,695,200.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Hormel Foods Corp. engages in the production of meat and food products. It operates business through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold in the retail market.
