Hillenbrand (HI) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Hillenbrand (NYSE:HI) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $51.00 target price on the stock.
According to Zacks, “Hillenbrand is a global diversified industrial company with multiple market-leading brands that serve a wide variety of industries across the globe. Hillenbrand’s portfolio is comprised of two business segments: the Process Equipment Group and Batesville. The Process Equipment Group businesses design, develop, manufacture and service highly engineered industrial equipment around the world. Batesville is a recognized leader in the North American death care industry. They pursue profitable growth and robust cash generation driving increased value for their shareholders. Hillenbrand is publicly traded on the NYSE under HI. “
A number of other research analysts also recently commented on HI. Capital One Financial initiated coverage on Hillenbrand in a report on Monday, October 23rd. They set an equal weight rating on the stock. B. Riley set a $50.00 target price on Hillenbrand and gave the stock a buy rating in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $50.50.
Shares of Hillenbrand (NYSE:HI) opened at $44.30 on Tuesday. Hillenbrand has a 12 month low of $34.65 and a 12 month high of $46.50. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $2,842.35, a P/E ratio of 21.48 and a beta of 1.41.
Hillenbrand (NYSE:HI) last issued its quarterly earnings data on Wednesday, November 15th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Hillenbrand had a return on equity of 19.26% and a net margin of 7.94%. The firm had revenue of $442.90 million during the quarter, compared to analyst estimates of $427.45 million. During the same quarter last year, the firm earned $0.58 EPS. Hillenbrand’s quarterly revenue was up 3.3% on a year-over-year basis. equities research analysts forecast that Hillenbrand will post 2.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, December 15th. This is an increase from Hillenbrand’s previous quarterly dividend of $0.21. Hillenbrand’s dividend payout ratio (DPR) is currently 41.41%.
In related news, insider Joe Anthony Raver sold 34,565 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $43.25, for a total value of $1,494,936.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Diane R. Bohman sold 6,873 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $43.50, for a total value of $298,975.50. Following the completion of the sale, the senior vice president now directly owns 36,544 shares in the company, valued at approximately $1,589,664. The disclosure for this sale can be found here. Company insiders own 1.74% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its stake in Hillenbrand by 8.5% during the 3rd quarter. GSA Capital Partners LLP now owns 20,687 shares of the company’s stock valued at $804,000 after acquiring an additional 1,618 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Hillenbrand during the 3rd quarter valued at $261,000. Highbridge Capital Management LLC raised its stake in Hillenbrand by 94.7% during the 3rd quarter. Highbridge Capital Management LLC now owns 15,362 shares of the company’s stock valued at $597,000 after acquiring an additional 7,470 shares in the last quarter. Janus Henderson Group PLC raised its stake in Hillenbrand by 10.0% during the 3rd quarter. Janus Henderson Group PLC now owns 2,648,772 shares of the company’s stock valued at $102,905,000 after acquiring an additional 240,920 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in Hillenbrand during the 3rd quarter valued at $418,000. 76.36% of the stock is currently owned by institutional investors and hedge funds.
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Hillenbrand Company Profile
Hillenbrand, Inc is a diversified industrial company with multiple brands that serve a range of industries across the globe. The Company operates in two segments: the Process Equipment Group and Batesville. The Process Equipment Group businesses design, develop, manufacture and service engineered industrial equipment throughout the world.
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