Hilton Food Group plc (LON:HFG) experienced a significant decline in its stock price on Tuesday, falling by 22.7%. The shares dipped to a low of GBX 480 during mid-day trading before closing at GBX 495.50, down from a previous closing price of GBX 641. A total of 3,336,975 shares changed hands, representing a staggering 599% increase from the average session volume of 477,579 shares.
Analyst Ratings and Market Reactions
Recent evaluations by financial analysts have further compounded the situation for Hilton Food Group. Berenberg Bank revised its target price for the company from GBX 1,100 to GBX 1,090 while maintaining a “buy” rating, according to a research report dated October 3, 2023. Conversely, the Royal Bank of Canada lowered its price target from GBX 1,050 to GBX 750, assigning a “sector perform” rating in a report released on September 3, 2023. Additionally, Shore Capital reaffirmed a “house stock” rating for Hilton Food Group on the same day.
As it stands, one analyst has assigned a Buy rating, while another has given the stock a Hold rating. Data from MarketBeat.com indicates a consensus rating of “Moderate Buy” with a price target averaging GBX 920.
Recent Earnings and Insider Activity
Hilton Food Group’s last quarterly earnings report, released on September 3, 2023, revealed an earnings per share (EPS) of GBX 26.50. The company reported a return on equity of 15.15% and a net margin of 1.22%. Analysts forecast that Hilton Food Group plc will achieve an EPS of approximately 62.33 for the current financial year.
In related news, insider Steve Murrells purchased 12,049 shares of Hilton Food Group on September 30, 2023, at an average price of GBX 659 per share, amounting to a total investment of £79,402.91. Corporate insiders currently hold about 4.34% of the company’s stock, reflecting confidence in the business despite the recent downturn.
Hilton Food Group plc is recognized as a leading international partner in food and supply chain services, collaborating with prominent retailers, brands, and food service partners globally. The company offers a diverse range of protein products, including meat, seafood, and vegetarian options.
As the market reacts to these developments, stakeholders are closely monitoring the performance of Hilton Food Group and its response to the challenging trading conditions.
