Hormel Foods (HRL) Stock Forecast & Price Target

$32.11

+1.10 (+3.55%)

(As of 09/5/2024 ET)

Hormel Foods - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold
Based on 6 Analyst Ratings

Based on 6 Wall Street analysts who have issued ratings for Hormel Foods in the last 12 months, the stock has a consensus rating of "Hold." Out of the 6 analysts, 1 has given a sell rating, 4 have given a hold rating, and 1 has given a buy rating for HRL.

Consensus Price Target

$32.33
0.70% Upside

High Forecast	$37.00
Average Forecast	$32.33
Low Forecast	$28.00

According to the 6 analysts' twelve-month price targets for Hormel Foods, the average price target is $32.33. The highest price target for HRL is $37.00, while the lowest price target for HRL is $28.00. The average price target represents a forecasted upside of 0.70% from the current price of $32.11.

Type	Current Forecast 9/6/23 to 9/5/24	1 Month Ago 8/7/23 to 8/6/24	3 Months Ago 6/8/23 to 6/7/24	1 Year Ago 9/6/22 to 9/6/23
Consensus Rating	Hold	Reduce	Reduce	Reduce
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	1 Buy rating(s)	0 Buy rating(s)	0 Buy rating(s)	0 Buy rating(s)
Hold	4 Hold rating(s)	5 Hold rating(s)	5 Hold rating(s)	4 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$32.33	$31.67	$31.67	$43.71
Forecasted Upside	0.70% Upside	-2.51% Downside	-2.51% Downside	6.00% Upside

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HRL Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

HRL Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Hormel Foods Stock vs. The Competition

Type	Hormel Foods	Consumer Staples Companies	S&P 500
Consensus Rating Score	2.00	2.44	2.51
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	3.97% Upside	604.58% Upside	9.58% Upside
News Sentiment Rating	Neutral News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
8/13/2024	Citigroup 3 of 5 stars	T. Palmer Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Neutral ➝ Buy	$33.00 ➝ $37.00	+18.40%
5/31/2024	Stephens 4 of 5 stars		Reiterated Rating	Equal Weight ➝ Equal Weight	$32.00 ➝ $32.00	+3.06%
5/31/2024	JPMorgan Chase & Co. 3 of 5 stars		Upgrade	Underweight ➝ Neutral	$28.00 ➝ $29.00	-5.81%
3/1/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sell ➝ Sell	$26.00 ➝ $28.00	-20.63%
3/1/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$33.00 ➝ $35.00	-0.79%
1/12/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$31.00 ➝ $33.00	+4.36%
3/30/2023	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold
3/6/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$45.00 ➝ $41.00	+0.91%
3/3/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral	$44.00 ➝ $41.00	-1.98%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 09:03 PM ET.

HRL Forecast - Frequently Asked Questions

What is Hormel Foods' forecast for 2024?: According to the research reports of 6 Wall Street equities research analysts, the average twelve-month stock price forecast for Hormel Foods is $32.33, with a high forecast of $37.00 and a low forecast of $28.00.
Should I buy or sell Hormel Foods stock right now?: 6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Hormel Foods in the last year. There is currently 1 sell rating, 4 hold ratings and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" HRL shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in HRL, but not buy additional shares or sell existing shares.
Does Hormel Foods's stock price have much downside?: According to analysts, Hormel Foods's stock has a predicted downside of -0.65% based on their 12-month stock forecasts.
Has Hormel Foods been upgraded by Wall Street analysts recently?: Over the previous 90 days, Hormel Foods's stock had 1 upgrade by analysts.
What analysts cover Hormel Foods?: Hormel Foods has been rated by research analysts at Citigroup in the past 90 days.
Do Wall Street analysts like Hormel Foods more than its competitors?: Analysts like Hormel Foods less than other "consumer staples" companies. The consensus rating score for Hormel Foods is 2.00 while the average consensus rating score for "consumer staples" companies is 2.44. Learn more on how HRL compares to other companies.