Hillman Solutions, the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Brian McNamara from Canaccord Genuity maintained a Buy rating on the stock and has a $13.00 price target.
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Brian McNamara has given his Buy rating due to a combination of factors influencing Hillman Solutions’ market position. He conducted a comprehensive survey of 80 customer locations to gauge current business trends and consumer behavior. The findings indicated that while there are modest price increases in fasteners, consumers are generally accepting price hikes in other areas, suggesting a rebound in consumer confidence.
Despite a slowdown in large project activities due to high interest rates and low housing turnover, the market is showing signs of shifting towards a buyer’s market, which could benefit Hillman Solutions. Additionally, the company’s Q2 estimates have been adjusted to reflect lower sales but improved margins, keeping them ahead of consensus expectations. These insights support the reiteration of a Buy rating with a $13 price target.
In another report released yesterday, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $9.50 price target.
HLMN’s price has also changed moderately for the past six months – from $9.880 to $7.770, which is a -21.36% drop .