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Hormel Foods Corporation

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Over the last three months, Applied Industrial’s shares underperformed the industry. We fear headwinds prevalent in the industry might hurt the company’s near-term top- and bottom-line performances. Applied Industrial believes a stronger U.S. dollar might continue to thwart its overseas market revenues in the quarters ahead. Also, other headwinds such as heightening industry rivalry or consolidation among consumers or suppliers might curb near-term growth. In addition, issues related to the supply of inputs from contract manufacturers might dent the company’s near-term sales. The Zacks Consensus Estimate for the stock has moved south for fiscal 2019 in 60 days’ time.

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