Hormel Foods (HRL) is Barchart's Chart of the Day. The stock hit 16 new highs in the last month and is up 7.85%. Not only do they produce SPAM but now they also own Skippy Peanut Better.
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The Chart of the Day is Hormel Foods (HRL). The stock was found near the top of the Barchart New High list when sorted for frequency. The price advanced 16 times and is up 7.85% in just the last month alone. Analysts expect sales and earning to keep increasing and the Company's finances are solid.
They are a multinational manufacturer and marketer of consumer-branded meat and food products, many of which are among the best known and trusted in the food industry. Products manufactured by the corporation include hams, bacon, sausages, franks, canned luncheon meats, stews, chilies, hash, meat spreads, shelf-stable microwaveable entrees, salsas and frozen processed foods. If you've been to college then you probably had SPAM, Dinty Moore or Skippy in your closet at school.
Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 16 new highs and up 7.85% in the last month
- Relative Strength Index 77.02%
- Barchart computes a technical support level at 37.23
- Recently traded at 77.02 with a 50 day moving average of 38.20
Fundamental factors:
- Market Cap $10.07 billion
- P/E 20.15
- Dividend yield 1.81%
- Analysts issued 1 strong buy, 1 buy, 6 hold and a strong sell recommendation
- Revenue projected to increase by 6.70% this year and 5.70% next year
- Earnings estimated to increase by 7.00% this year, 12.60% next year and continue to increase annually at the rate of 11.00% for the next 5 years
- Financial Strength A
Exit strategy: Consider selling if you lose 10% or the stock drops below its 50 day moving average.
Disclosure: I do not own Hormel Foods (HRL) at this time.
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