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HRL

Hormel Foods

$39.27

-1.17 (-2.89%)

11:15
04/23/19
04/23
11:15
04/23/19
11:15

Hormel Foods put volume heavy and directionally bearish

Bearish flow noted in Hormel Foods with 1,966 puts trading, or 5x expected. Most active are 4/26 weekly 38.5 puts and Jun-19 40 puts, with total volume in those strikes near 850 contracts. The Put/Call Ratio is 7.96, while ATM IV is up over 2 points on the day. Earnings are expected on May 23rd.

  • 18

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    May

HRL Hormel Foods
$39.27

-1.17 (-2.89%)

04/23/19
04/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hormel Foods (HRL) downgraded to Sell from Neutral at Goldman Sachs and to Underweight from Neutral at JPMorgan. 2. Digital Realty (DLR) downgraded to Hold from Buy at Jefferies with analyst Jonathan Petersen saying market absorption numbers from datacenterHawk suggest a leasing quarter even worse than Q4 of 2018 for the data center real estate investment trusts. 3. PSEG (PEG) downgraded to Neutral from Overweight at JPMorgan with analyst Christopher Turnure saying now that zero emission credits have been formally awarded, the he expects PJM capacity market reform driven-uncertainty to continue near-term or longer if the Federal Energy Regulatory Commission fails to approve a revised methodology soon. He sees limited near-term upside in PSEG shares. 4. Fortis (FTS) downgraded to Market Perform from Outperform at Raymond James. 5. Crocs (CROX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying the "runway for significant share appreciation becomes more difficult from here." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/23/19
JPMS
04/23/19
DOWNGRADE
Target $36
JPMS
Underweight
JPMorgan downgrades Hormel Foods to Underweight on rising pork costs
JPMorgan analyst Thomas Palmer downgraded Hormel Foods to Underweight from Neutral and lowered his price target for the shares to $36 from $40. Goldman Sachs this morning also downgraded the shares. Rising pork costs and worsening Jennie-O ground turkey brand distribution points could weigh on Hormel's earnings, Palmer tells investors in a research note. Hormel is heavily reliant upon pork as an input for its products, and the company will likely be able to fully offset these cost increases through pricing, Palmer tells investors in a research note. African swine fever in China could result in an extended period of elevated pork pricing in the U.S., he contends.
04/23/19
GSCO
04/23/19
DOWNGRADE
GSCO
Sell
Goldman downgrades Hormel to Sell, upgrades Sanderson to Neutral
Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods (HRL) to Sell from Neutral and cut his price target for the shares to $35 from $37. With his estimates now below consensus and "limited" earnings growth forecasted through fiscal 2020, the analyst sees risk to Hormel's "premium" valuation. The breadth and depth of African swine fever's impact across the Chinese pork industry, and as a result the global protein industry, will be significant in the near-to-medium-term, Samuelson tells investors in a research note. Buy-rated Tyson Foods (TSN) and BRF S.A. (BRFS) remain the analyst's preferred way to gain exposure to the Global Protein market. Samuelson this morning also upgraded Sanderson Farms (SAFM) to Neutral from Sell and raised his price target for the shares for $131 from $81. Higher competing protein prices and improving U.S. export prospects "make a more negative stance unsustainable," Samuelson contends. He raised his fiscal 2020 and 2021 margin forecasts for the company to "normalized levels." However, further upside is tempered, for now, by increases in U.S. processing capacity coming on stream over the next 18 months, the analyst contends.
04/23/19
GSCO
04/23/19
DOWNGRADE
Target $35
GSCO
Sell
Hormel Foods downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods to Sell from Neutral and lowered his price target for the shares to $35 from $37. African swine fever is upending the protein markets, Samuelson tells investors in a research note. JPMorgan this morning also downgraded Hormel Foods to a sell-equivalent rating.

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