Hormel Foods Corp. stock trades under the ticker HRL & has shown recent bullishness that traders & investors should take note of.
HRL stock closed at $47.70/share on 2/23/2022.
Hormel Foods Corp. HRL Stock’s Technicals Broken Down
HRL Stock Price: $47.70
10 Day Moving Average: $47.50
50 Day Moving Average: $48.09
200 Day Moving Average: $45.40
RSI: 51.11
MACD: -0.081
Yesterday, HRL stock completed a bullish MACD crossover, on about average volume compared to the last year, while also breaking out above their 10 Day Moving Average.
Their next level of resistance is $48.09, followed by $48.13.
With a neutral RSI, HRL stock looks poised to continue climbing higher in the near-term.
Hormel Foods Corp. HRL Stock As A Long-Term Investment
Long-term oriented investors will like HRL stock’s valuation metrics, with a P/E (ttm) of 28.6 & a P/B (mrq) of 3.69.
HRL stock’s Quarterly Revenue Growth Y-o-Y is 42.8%, with 20.2% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a further inspection though, with Total Cash (mrq) of $634.7M & Total Debt (mrq) of $3.4B.
They offer a 2.06% dividend yield, which looks relatively safe with a 59% payout ratio.
Only 42% of HRL stock’s outstanding share float is held by institutional investors.
Hormel Foods Corp. HRL Stock As A Short-Term Trade Using Options
Short-term oriented traders can use options to take advantage of HRL stock’s momentum, while hedging against broader market volatility.
I am looking at the contracts with the 3/18 expiration date.
The $47 & $48 call options look interesting, although their open interest levels are mediocre.
The $49 & $50 puts also look appealing, but are much less liquid than the calls, which signals that there is more bullish than bearish sentiment for HRL.
Tying It All Together
Overall, HRL stock has many attributes that traders & investors will find interesting.
Investors will like their dividend yield, as well as their valuation metrics.
Traders will like their momentum, but may be disappointed by the liquidity of their options contracts.
HRL stock is worth taking a closer look into, regardless of your trading style.
*** I DO NOT OWN SHARES OF HRL STOCK ***