Credit Suisse Thinks Hormel Foods’ Stock is Going to Recover

By Austin Angelo

Credit Suisse analyst Robert Moskow maintained a Buy rating on Hormel Foods (NYSE: HRL) on May 25 and set a price target of $39. The company’s shares closed yesterday at $33.12, close to its 52-week low of $32.94.

According to TipRanks.com, Moskow is a 4-star analyst with an average return of 4.0% and a 57.9% success rate. Moskow covers the Consumer Goods sector, focusing on stocks such as Archer Daniels Midland, Mondelez International, and Amplify Snack Brands.

Currently, the analyst consensus on Hormel Foods is Moderate Buy and the average price target is $39, representing a 17.8% upside.

In a report issued on May 15, BMO Capital also reiterated a Buy rating on the stock with a $45 price target.

The company has a one year high of $40 and a one year low of $32.94. Currently, Hormel Foods has an average volume of 2.21M.

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, Specialty Foods, and International & Other. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold in the retail market. The Refrigerated Foods segment involves in the processing, marketing, and sale of branded and unbranded pork and beef products for retail, foodservice and fresh product customers. The Jennie-O Turkey Store segment include fresh ground turkey, rotisserie deli turkey products, nacho platters, turkey bacon, turkey burgers and other turkey products to consumers and foodservice operators. The Specialty Foods segment includes Omega-3 fish oils, stocks and broths, pasteurized processed cheeses and imitation blends, milk and whey proteins, dry milk powders, caseinates and isolates, meat ingredients, gelatin desserts, puddings, drinks, seasoning oils, sauces, and specialty fats. The International & Other segment includes the Hormel Foods International operating segment, which manufactures, markets, and sells company products internationally. The company was founded by George A. Hormel in 1891 and is headquartered in Austin, MN.