Shares of Hilton Food Group plc (LON:HFG) experienced a significant decline on Tuesday, falling by 22.7% during mid-day trading. The stock traded as low as GBX 480 before closing at GBX 495.50, a substantial drop from its previous close of GBX 641. Trading volume surged to 3,336,975 shares, marking a 599% increase compared to the average session volume of 477,579 shares.
Analysts have provided mixed reviews following this downturn. Berenberg Bank adjusted its target price for Hilton Food Group from GBX 1,100 to GBX 1,090, maintaining a “buy” rating in a report released on October 3, 2023. Conversely, the Royal Bank of Canada lowered its price target from GBX 1,050 to GBX 750 and assigned a “sector perform” rating on September 3, 2023. In addition, Shore Capital reiterated a “house stock” rating for Hilton Food Group.
Currently, one analyst rates the stock as a “buy,” while another has issued a “hold” rating. According to data from MarketBeat.com, Hilton Food Group has an overall consensus rating of “Moderate Buy” and a target price of GBX 920.
Recent Financial Performance and Insider Activity
Hilton Food Group recently released its quarterly earnings results on September 3, 2023. The company reported an earnings per share (EPS) of GBX 26.50, with a return on equity of 15.15% and a net margin of 1.22%. Analysts project that Hilton Food Group will achieve an EPS of approximately 62.33 for the current year.
On the insider front, Steve Murrells, a company insider, purchased 12,049 shares on September 30, 2023, at an average price of GBX 659 per share, totaling approximately £79,402.91. Currently, corporate insiders hold around 4.34% of the company’s stock.
Company Overview
Hilton Food Group plc is recognized as a leading international provider of food and supply chain services. The company collaborates with top retailers, brands, and food service partners worldwide, offering an extensive range of protein products, including meat, seafood, and plant-based options for easier meals.
As the market digests these developments, investors will be closely watching Hilton Food Group’s next moves and the potential impacts on its stock performance.
