Shares of Hilton Food Group plc (LON:HFG) experienced a significant decline of 22.7% during mid-day trading on Tuesday, falling to as low as GBX 480 before settling at GBX 495.50. This sharp drop follows a period of unusually high trading activity, with a total of 3,336,975 shares exchanged, representing a remarkable 599% increase from the average session volume of 477,579 shares. The stock had closed at GBX 641 prior to this downturn.
Analyst Ratings and Market Response
Several research analysts have recently revised their outlook for Hilton Food Group. On October 3, 2023, Berenberg Bank reduced its target price for the company from GBX 1,100 to GBX 1,090, maintaining a “buy” rating. Meanwhile, Royal Bank of Canada adjusted its price target downwards from GBX 1,050 to GBX 750, assigning a “sector perform” rating in a report dated September 3, 2023. Additionally, Shore Capital reaffirmed its “house stock” rating for Hilton Food Group.
Currently, according to data from MarketBeat.com, the stock holds a consensus rating of “Moderate Buy” with an average price target of GBX 920. Notably, one analyst has recommended a buy rating while another has assigned a hold rating.
Company Performance and Insider Activity
Hilton Food Group released its quarterly earnings on September 3, 2023, reporting earnings per share of GBX 26.50. The company achieved a return on equity of 15.15% and a net margin of 1.22%. Analysts forecast that Hilton Food Group plc will achieve earnings per share of approximately 62.33 for the current fiscal year.
In related news, insider Steve Murrells acquired 12,049 shares of Hilton Food Group on September 30, 2023. The shares were purchased at an average price of GBX 659 each, amounting to a total investment of approximately £79,402.91. Currently, corporate insiders own about 4.34% of the company’s stock.
Hilton Food Group plc is recognized as a leading international food and supply chain services partner. The company collaborates with major retailers, brands, and food service partners globally, offering a diverse range of protein products, including meat, seafood, vegan, and vegetarian options, alongside convenient meal solutions.
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