Buckingham Research Starts HRL Coverage

Published By : 21 Oct 2015 | Published By : QYRESEARCH

Hormel Foods is being covered by Buckingham Research. According to a research note submitted to the investors of HRL, Buckingham Research has announced a price target of US$68.00 for individual shares. The shares so far have been neutrally rated. The rating issued by the brokerage major on the 19th of October, 2015.

As of now, the insiders control 3.19% shares of Hormel Foods Cp Company, as per statements given by proxies. Nearly 31.46% of Hormel Foods Cp shares are owned by institutional investors. A change of -25.49% was witnessed within the last six months, in the insider-held net percentage.

From its one year high price, HRL shares have rallied 28.01%. The shares registered a one year high on the 13th of October, 2015, at US$66.54. HRL shares experienced a one year low in 2014 on the 17th of December.

According to a consensus estimate by multiple analysts, Hormel Foods Corporation could easily move towards a per share cost of US$58.6. The 200 day moving average price for Hormel Foods Corporation is recorded to be US$58.85, while the 50 day moving average is recorded to be US$62.60.

The analysts have also mentioned that complications in the company’s progress could shake the company shares down to US$50 per share. A greater price estimate, as submitted by the analysts, is targeted at US$66.

Hormel Foods Corporation is mainly involved in the manufacture of multiple food and meat products and also undertakes the marketing of their foods within the U.S. as well as on international markets. The marketing of the company’s products is done through a fully owned subsidiary, Hormel Foods International Corporation.

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