Hillenbrand (NYSE:HI) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Hillenbrand (NYSE:HI) from a strong sell rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $38.00 price target 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. “

Separately, DA Davidson boosted their price target on shares of Hillenbrand from $30.00 to $35.00 in a research report on Wednesday, June 10th.

HI traded down $0.10 during midday trading on Wednesday, reaching $32.73. 424,449 shares of the company’s stock traded hands, compared to its average volume of 653,384. Hillenbrand has a 52 week low of $13.61 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.07. The firm has a fifty day moving average of $28.28 and a two-hundred day moving average of $24.43. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -99.18 and a beta of 1.42.

Hillenbrand (NYSE:HI) last posted its earnings results on Wednesday, August 5th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.29. Hillenbrand had a positive return on equity of 17.93% and a negative net margin of 1.23%. Sell-side analysts forecast that Hillenbrand will post 1.95 EPS for the current year.

In other news, SVP Kimberly K. Ryan sold 3,100 shares of Hillenbrand stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $32.92, for a total value of $102,052.00. Following the completion of the transaction, the senior vice president now owns 73,600 shares of the company’s stock, valued at approximately $2,422,912. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.33% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Hillenbrand by 2.9% in the first quarter. BlackRock Inc. now owns 11,966,961 shares of the company’s stock worth $228,688,000 after buying an additional 340,197 shares in the last quarter. Clarkston Capital Partners LLC raised its holdings in Hillenbrand by 1.2% in the 2nd quarter. Clarkston Capital Partners LLC now owns 5,803,899 shares of the company’s stock worth $157,112,000 after acquiring an additional 68,824 shares during the last quarter. Jana Partners LLC bought a new position in Hillenbrand in the 1st quarter valued at approximately $69,962,000. State Street Corp boosted its stake in Hillenbrand by 15.1% during the 1st quarter. State Street Corp now owns 2,565,521 shares of the company’s stock valued at $49,027,000 after purchasing an additional 337,132 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Hillenbrand by 18.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,521,163 shares of the company’s stock worth $41,178,000 after purchasing an additional 240,056 shares in the last quarter. Institutional investors and hedge funds own 84.51% of the company’s stock.

About Hillenbrand

Hillenbrand, Inc operates as a diversified industrial company in the United States and internationally. The company operates in two segments, Process Equipment Group and Batesville. The Process Equipment Group segment designs, engineers, manufactures, markets, and services process and material handling equipment and systems for various industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals and mining, energy, wastewater treatment, forest products, and other general industrials.

Further Reading: Why does the United States have a lingering trade deficit?

Get a free copy of the Zacks research report on Hillenbrand (HI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Hillenbrand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hillenbrand and related companies with MarketBeat.com's FREE daily email newsletter.