Hillman Solutions (NASDAQ:HLMN) Stock Price Breaks Below 200-Day Moving Average - Here's What Happened

Key Points

• Hillman Solutions shares fell below their 200-day moving average, reaching $8.01 and last trading at $8.02, compared with the average of $8.08.
• Analysts have a Moderate Buy consensus and an average price target of $12, though Canaccord and Barclays recently lowered their targets.
• Quarterly EPS of $0.22 slightly beat the $0.21 estimate, while revenue of $457.49 million came in below analysts’ $462.10 million forecast.

Hillman Solutions Corp. (NASDAQ:HLMN - Get Free Report)'s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $8.08 and traded as low as $8.01. Hillman Solutions shares last traded at $8.02, with a volume of 1,360,067 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group lowered their price target on shares of Hillman Solutions from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, November 4th. Weiss Ratings upgraded shares of Hillman Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, October 29th. Jefferies Financial Group upgraded Hillman Solutions to a "strong-buy" rating in a research report on Thursday, September 10th. Raymond James Financial lowered Hillman Solutions from an "outperform" rating to a "hold" rating in a report on Thursday, October 1st. Finally, Barclays reduced their target price on Hillman Solutions from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

Hillman Solutions Price Performance

The stock has a 50-day simple moving average of $7.41 and a 200 day simple moving average of $8.08. The company has a market cap of $1.56 billion, a PE ratio of 61.69, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 0.83, a current ratio of 2.60 and a debt-to-equity ratio of 0.76.

Hillman Solutions (NASDAQ:HLMN - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.01. Hillman Solutions had a net margin of 1.48% and a return on equity of 9.03%. The business had revenue of $457.49 million during the quarter, compared to analysts' expectations of $462.10 million. Equities analysts expect that Hillman Solutions Corp. will post 0.58 EPS for the current year.

Insider Activity at Hillman Solutions

In other news, insider Aaron Parker sold 17,381 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $8.57, for a total transaction of $148,955.17. Following the completion of the sale, the insider owned 54,723 shares in the company, valued at $468,976.11. This represents a 24.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Amanda Kitzberger sold 13,750 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $7.25, for a total value of $99,687.50. Following the transaction, the insider directly owned 58,855 shares of the company's stock, valued at approximately $426,698.75. This trade represents a 18.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Hillman Solutions

Large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Hillman Solutions during the second quarter valued at $25,000. Public Employees Retirement System of Ohio acquired a new position in shares of Hillman Solutions in the second quarter valued at approximately $42,000. Avidian Wealth Enterprises LLC purchased a new position in shares of Hillman Solutions during the third quarter valued at approximately $73,000. Diversified Management Inc. purchased a new stake in Hillman Solutions in the 3rd quarter worth approximately $78,000. Finally, NewEdge Wealth LLC purchased a new position in shares of Hillman Solutions during the 2nd quarter worth $88,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.

Hillman Solutions Company Profile

Hillman Solutions Corp. supplies hardware products and merchandising services to retailers and other customers across North America. Its products include fasteners such as screws, nuts and bolts; keys and key-duplication systems; and builder's hardware and other home-improvement and maintenance products. The company serves customers including hardware stores, home-improvement retailers and mass merchants. Alongside its products, Hillman provides in-store merchandising, inventory-management and related services to help customers stock and sell hardware goods.

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