Hawkins (NASDAQ:HWKN) Shares Gap Down Following Weak Earnings

Shares of Hawkins, Inc. (NASDAQ:HWKN) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $117.29, but opened at $109.51. Hawkins shares last traded at $111.25, with a volume of 40,698 shares changing hands.

The specialty chemicals company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.02). Hawkins had a net margin of 8.75% and a return on equity of 20.16%. The company had revenue of $247.03 million for the quarter, compared to the consensus estimate of $259.59 million.

Analyst Ratings Changes

Separately, BWS Financial cut Hawkins from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a report on Wednesday, October 16th.

Hedge Funds Weigh In On Hawkins

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Hawkins by 71.8% during the 3rd quarter. GAMMA Investing LLC now owns 402 shares of the specialty chemicals company’s stock valued at $51,000 after acquiring an additional 168 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Hawkins by 289.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 467 shares of the specialty chemicals company’s stock valued at $59,000 after acquiring an additional 347 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Hawkins in the third quarter valued at $100,000. USA Financial Formulas boosted its position in Hawkins by 35.1% during the third quarter. USA Financial Formulas now owns 885 shares of the specialty chemicals company’s stock valued at $113,000 after purchasing an additional 230 shares during the last quarter. Finally, Shell Asset Management Co. raised its holdings in Hawkins by 36.9% in the 1st quarter. Shell Asset Management Co. now owns 2,342 shares of the specialty chemicals company’s stock worth $180,000 after acquiring an additional 631 shares during the period. 69.71% of the stock is owned by institutional investors.

Hawkins Stock Performance

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.44 and a current ratio of 2.27. The firm’s 50-day moving average price is $123.14 and its two-hundred day moving average price is $103.51. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 4.10 and a beta of 0.74.

About Hawkins

Hawkins, Inc operates as a specialty chemical and ingredients company in the United States. It operates through three segments: Industrial, Water Treatment, and Health and Nutrition. The Industrial segment offers industrial chemicals, products, and services to agriculture, chemical processing, electronics, energy, food, pharmaceutical, and plating industries.