Hormel Foods (HRL) Stock Forecast & Price Target

$30.98

-0.09 (-0.29%)

(As of 10/9/2024 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

Sell
1

Hold
4

Buy
1

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

$32.17
3.83% Upside

According to the 6 analysts' twelve-month price targets for Hormel Foods, the average price target is $32.17. 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 3.83% from the current price of $30.98.

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HRL Analyst Ratings Over Time

Type	Current Forecast 10/10/23 to 10/9/24	1 Month Ago 9/10/23 to 9/9/24	3 Months Ago 7/12/23 to 7/11/24	1 Year Ago 10/10/22 to 10/10/23
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)	1 Buy rating(s)	0 Buy rating(s)	0 Buy rating(s)
Hold	4 Hold rating(s)	4 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	$32.17	$32.33	$31.67	$43.71
Forecasted Upside	3.83% Upside	-0.21% Downside	2.58% Upside	18.76% Upside
Consensus Rating	Hold	Hold	Reduce	Reduce

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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	2.45	2.50
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	3.83% Upside	143.58% Upside	7.27% Upside
News Sentiment Rating	Positive News See Recent HRL 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
10/3/2024	Stephens 4 of 5 stars	P. Sharma Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Equal Weight	$31.00	-1.71%
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	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 12:24 AM ET.

Should I Buy Hormel Foods Stock? HRL Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Monday, October 7, 2024. Please send any questions or comments about these Hormel Foods pros and cons to contact@marketbeat.com.

Hormel Foods
Bull Case

Here are some ways that investors could benefit from investing in Hormel Foods Co.:

Hormel Foods Co. recently reported a higher-than-expected quarterly earnings per share (EPS) of $0.37, beating analyst estimates by $0.01. This indicates strong financial performance.
Institutional investors, such as Goldman Sachs Group Inc. and Dimensional Fund Advisors LP, have been increasing their holdings in Hormel Foods Co., which can be seen as a vote of confidence in the company's future prospects.
Hormel Foods Co. has a dividend yield of 3.56%, with a dividend payout ratio of 80.71%. This can be attractive to income-seeking investors looking for steady returns.
The company's stock price has been relatively stable with a 52-week low of $28.51 and a 52-week high of $39.58, providing a sense of security to investors.
Hormel Foods Co. has a market capitalization of $17.75 billion, indicating its size and stability in the market.

Hormel Foods
Bear Case

Investors should be bearish about investing in Hormel Foods Co. for these reasons:

One equities research analyst has rated the stock with a sell rating, which may raise concerns about the company's future performance.
The company's revenue was down 2.2% on a year-over-year basis, indicating a potential decline in business growth.
Insider selling activity: EVP Deanna T. Brady sold a significant number of shares, which could signal a lack of confidence from within the company.
The company's PEG ratio of 3.10 may suggest that the stock is overvalued based on its future growth potential.
Analysts forecast that Hormel Foods Co. will post 1.58 EPS for the current year, which may not meet some investors' expectations for earnings growth.

HRL Forecast - Frequently Asked Questions

: According to the research reports of 6 Wall Street equities research analysts, the average twelve-month stock price forecast for Hormel Foods is $32.17, with a high forecast of $37.00 and a low forecast of $28.00.
: 6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Hormel Foods in the last twelve months. 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.
: According to analysts, Hormel Foods's stock has a predicted upside of 3.83% based on their 12-month stock forecasts.
: Over the previous 90 days, Hormel Foods's stock had 1 upgrade by analysts.
: Hormel Foods has been rated by research analysts at Citigroup, and Stephens in the past 90 days.
: 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 2.45. Learn more on how HRL compares to other companies.