Hawkins (NASDAQ:HWKN) Shares Gap Down on Disappointing Earnings

Hawkins, Inc. (NASDAQ:HWKN)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. 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 traded.

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 analyst estimates of $259.59 million.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “neutral” rating and set a $122.00 target price on shares of Hawkins in a research report on Thursday.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HWKN. GAMMA Investing LLC grew its stake in shares of Hawkins by 71.8% in the third quarter. GAMMA Investing LLC now owns 402 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 168 shares during the last quarter. Farther Finance Advisors LLC grew its position in Hawkins by 289.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 467 shares of the specialty chemicals company’s stock worth $59,000 after purchasing an additional 347 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Hawkins during the 3rd quarter worth about $100,000. USA Financial Formulas raised its position in shares of 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 buying an additional 230 shares during the last quarter. Finally, Capital Investment Advisors LLC bought a new stake in shares of Hawkins in the third quarter valued at about $225,000. 69.71% of the stock is owned by institutional investors.

Hawkins Trading Down 8.9 %

The company has a quick ratio of 1.44, a current ratio of 2.27 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 4.10 and a beta of 0.74. The business has a 50-day moving average of $123.14 and a two-hundred day moving average of $103.51.

Hawkins Company Profile

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.