Hawkins (NASDAQ:HWKN) Shares Gap Down on Disappointing Earnings

Hawkins, Inc. (NASDAQ:HWKN - Get Free Report) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $117.29, but opened at $109.51. Hawkins shares last traded at $111.25, with a volume of 40,698 shares changing hands.

The specialty chemicals company reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.18 by ($0.02). The firm had revenue of $247.03 million for the quarter, compared to analyst estimates of $259.59 million. Hawkins had a net margin of 8.75% and a return on equity of 20.16%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a "neutral" rating and set a $122.00 price objective on shares of Hawkins in a research note on Thursday.

Institutional Trading of Hawkins

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Hawkins by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 1,516,717 shares of the specialty chemicals company's stock worth $106,807,000 after purchasing an additional 62,224 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Hawkins by 146.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,341 shares of the specialty chemicals company's stock worth $871,000 after buying an additional 6,731 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Hawkins by 4.2% during the 1st quarter. BNP Paribas Financial Markets now owns 22,640 shares of the specialty chemicals company's stock valued at $1,739,000 after buying an additional 922 shares during the period. Capstone Investment Advisors LLC acquired a new position in Hawkins in the first quarter valued at approximately $213,000. Finally, Nordea Investment Management AB grew its position in Hawkins by 116.9% in the first quarter. Nordea Investment Management AB now owns 104,537 shares of the specialty chemicals company's stock worth $8,049,000 after acquiring an additional 56,330 shares during the period. 69.71% of the stock is owned by institutional investors and hedge funds.

Hawkins Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.27 and a quick ratio of 1.44. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 4.10 and a beta of 0.74. The firm has a 50 day simple moving average of $123.14 and a 200-day simple moving average of $103.51.

About Hawkins

Hawkins, Inc operates as a specialty chemical and ingredients company in the United States. It operates through three segments: Industrial, Water Treatment, and Health and Nutrition. The Industrial segment offers industrial chemicals, products, and services to agriculture, chemical processing, electronics, energy, food, pharmaceutical, and plating industries.