Hillman Solutions (NASDAQ:HLMN) Shares Gap Up Following Strong Earnings

Key Points

• Hillman Solutions Corp. (NASDAQ:HLMN) shares surged from a previous close of $8.13 to an open of $9.40 following a strong earnings report, with the stock last trading at $9.45.
• The company reported an earnings per share (EPS) of $0.17, exceeding expectations of $0.15, and generated revenue of $402.80 million, surpassing analyst forecasts of $389.45 million.
• Despite the positive earnings, multiple analysts have adjusted their ratings on the stock, leading to a consensus "Hold" rating with a target price of $10.75.

Hillman Solutions Corp. (NASDAQ:HLMN - Get Free Report) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $8.13, but opened at $9.40. Hillman Solutions shares last traded at $9.45, with a volume of 283,949 shares.

The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. Hillman Solutions had a return on equity of 8.86% and a net margin of 1.44%. The firm had revenue of $402.80 million for the quarter, compared to analysts' expectations of $389.45 million. The firm's quarterly revenue was up 6.2% on a year-over-year basis.

Analyst Upgrades and Downgrades

HLMN has been the subject of a number of research analyst reports. Robert W. Baird dropped their price target on Hillman Solutions from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Stifel Nicolaus started coverage on shares of Hillman Solutions in a research report on Monday, July 14th. They set a "buy" rating and a $9.50 target price for the company. Baird R W lowered shares of Hillman Solutions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 16th. Raymond James Financial set a $10.00 price objective on shares of Hillman Solutions and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Canaccord Genuity Group upped their target price on shares of Hillman Solutions from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $11.42.

Hedge Funds Weigh In On Hillman Solutions

A number of large investors have recently added to or reduced their stakes in HLMN. Federated Hermes Inc. purchased a new position in shares of Hillman Solutions in the fourth quarter worth $25,000. KBC Group NV bought a new stake in Hillman Solutions in the 1st quarter worth $35,000. Sterling Capital Management LLC increased its position in shares of Hillman Solutions by 765.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,169 shares of the company's stock valued at $50,000 after acquiring an additional 4,572 shares during the period. Lazard Asset Management LLC raised its stake in shares of Hillman Solutions by 1,911.4% during the fourth quarter. Lazard Asset Management LLC now owns 6,517 shares of the company's stock valued at $63,000 after acquiring an additional 6,193 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Hillman Solutions during the fourth quarter valued at about $79,000. Hedge funds and other institutional investors own 98.11% of the company's stock.

Hillman Solutions Trading Down 0.6%

The company has a quick ratio of 0.79, a current ratio of 2.28 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.96 billion, a PE ratio of 90.37 and a beta of 1.66. The stock's fifty day moving average price is $7.63 and its two-hundred day moving average price is $8.37.

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.