Canaccord Genuity Group Issues Positive Forecast for Hillman Solutions (NASDAQ:HLMN) Stock Price

Key Points

• Canaccord Genuity Group has raised its target price for Hillman Solutions (NASDAQ:HLMN) from $13.00 to $15.00, indicating a potential upside of 51.29% based on the company's previous close.
• Other brokerages have varied ratings for Hillman Solutions, with Barclays increasing its target price to $10.00 while Robert W. Baird lowered it to $8.00, resulting in a consensus rating of "Hold."
• During its last quarter, Hillman Solutions reported a revenue of $402.80 million and an EPS of $0.17, surpassing analyst expectations.

Hillman Solutions (NASDAQ:HLMN - Get Free Report) had its target price raised by Canaccord Genuity Group from $13.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price target points to a potential upside of 51.29% from the company's previous close.

A number of other brokerages have also issued reports on HLMN. Barclays increased their target price on shares of Hillman Solutions from $8.00 to $10.00 and gave the company an "equal weight" rating in a research report on Wednesday. Robert W. Baird decreased their target price on shares of Hillman Solutions from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Raymond James Financial set a $10.00 target price on shares of Hillman Solutions and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Baird R W downgraded shares of Hillman Solutions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of Hillman Solutions from a "buy" rating to a "hold" rating in a report on Sunday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Hillman Solutions currently has a consensus rating of "Hold" and a consensus price target of $11.42.

Hillman Solutions Stock Performance

Shares of Hillman Solutions stock traded up $0.24 during trading on Wednesday, hitting $9.92. 1,494,772 shares of the stock were exchanged, compared to its average volume of 1,442,792. The stock's fifty day moving average is $7.53 and its 200 day moving average is $8.36. The stock has a market cap of $1.96 billion, a PE ratio of 110.29 and a beta of 1.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 2.46. Hillman Solutions has a 12 month low of $6.55 and a 12 month high of $12.08.

Hillman Solutions (NASDAQ:HLMN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $402.80 million during the quarter, compared to analyst estimates of $389.45 million. Hillman Solutions had a net margin of 1.24% and a return on equity of 8.73%. The company's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hillman Solutions will post 0.58 EPS for the current year.

Institutional Trading of Hillman Solutions

A number of hedge funds have recently bought and sold shares of the company. LPL Financial LLC increased its holdings in shares of Hillman Solutions by 35.5% in the 4th quarter. LPL Financial LLC now owns 195,187 shares of the company's stock valued at $1,901,000 after purchasing an additional 51,085 shares during the period. Trexquant Investment LP acquired a new position in shares of Hillman Solutions in the 4th quarter valued at about $2,157,000. ExodusPoint Capital Management LP acquired a new position in shares of Hillman Solutions in the 4th quarter valued at about $425,000. Wells Fargo & Company MN increased its holdings in shares of Hillman Solutions by 0.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,768,355 shares of the company's stock valued at $17,224,000 after purchasing an additional 16,048 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Hillman Solutions by 16.8% in the 4th quarter. Russell Investments Group Ltd. now owns 147,294 shares of the company's stock valued at $1,435,000 after purchasing an additional 21,191 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

About Hillman Solutions

Founded in 1964 and headquartered in Cincinnati, Ohio, Hillman is a leading North American provider of complete hardware solutions, delivered with industry best customer service to over 40,000 locations. Hillman designs innovative product and merchandising solutions for complex categories that deliver an outstanding customer experience to home improvement centers, mass merchants, national and regional hardware stores, pet supply stores, and OEM & Industrial customers.

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