We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Hawkins (HWKN) Scales 52-Week High: What's Driving the Stock?
Read MoreHide Full Article
Hawkins, Inc.’s (HWKN - Free Report) shares touched a fresh 52-week high of $58.66 on Aug 16, before closing at $57.51.
Over the past year, Hawkins has gained 29.1% compared with the industry’s 1.6% rise in the same period.
Image Source: Zacks Investment Research
What’s Driving Hawkins?
The company posted solid fiscal first-quarter 2024 results, with its net income soaring an impressive 101.8% compared to the previous quarter. This strong performance was mirrored in the revenue figures, which demonstrated 10% growth from the preceding quarter.
The Water Treatment segment was an outperformer, with revenue growth of 19% year over year and operating income growth of nearly 70%. This is a testament to the company's strategic focus on this segment. It has been successful in growing its legacy business and integrating its recent acquisitions. The acquisition of EcoTech Enterprises in July further strengthened the company's position in the water treatment market.
A key driver of the Water Treatment segment's growth has been the company's prudent pricing strategy. In response to rising raw material costs, the company adjusted its selling prices on several products. This pricing strategy has been successful in boosting sales.
While maintaining a prudent stance, the company holds an optimistic view of the Industrial segment. It acknowledges the potential challenges posed by economic pressure that impacts customer demand. Despite this, the company remains confident in its ability to navigate these challenges and sustain its growth momentum.
Furthermore, the company remains committed to enhancing shareholder returns. In fiscal 2023, Hawkins paid dividends worth $12 million and returned $6.6 million to stockholders through repurchases. The company has increased its quarterly dividend by 7% to 16 cents per share.
In the first quarter of fiscal 2024, Hawkins exceeded expectations by reporting earnings of $1.12 per share, which surpassed the Zacks Consensus Estimate of 61 cents. It delivered positive earnings surprises in the last four consecutive quarters, with the average beat being25.6%. The earnings estimates for the current fiscal have been revised upward by 32.3% in the past 60 days. The Zacks Consensus Estimate for fiscal 2024 earnings stands at $3.40 per share, indicating growth of 18.9% from the previous year reported figure.
The earnings estimate for CRS’s current year is pegged at $3.36, indicating year-over-year growth of 194%. CRS beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 10%. The company’s shares have rallied 51.8% in the past year.
The Zacks Consensus Estimate for PPG’s current-year earnings has been revised 3.5% upward in the past 60 days. PPG beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 7.3% on average. The company’s shares have risen roughly 3.1% in the past year.
The consensus estimate for FSTR's current year is pegged at 53 cents, indicating year-over-year growth of 112.5%. FSTR beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 134.5%. The company’s shares have rallied 27.4% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Hawkins (HWKN) Scales 52-Week High: What's Driving the Stock?
Hawkins, Inc.’s (HWKN - Free Report) shares touched a fresh 52-week high of $58.66 on Aug 16, before closing at $57.51.
Over the past year, Hawkins has gained 29.1% compared with the industry’s 1.6% rise in the same period.
Image Source: Zacks Investment Research
What’s Driving Hawkins?
The company posted solid fiscal first-quarter 2024 results, with its net income soaring an impressive 101.8% compared to the previous quarter. This strong performance was mirrored in the revenue figures, which demonstrated 10% growth from the preceding quarter.
The Water Treatment segment was an outperformer, with revenue growth of 19% year over year and operating income growth of nearly 70%. This is a testament to the company's strategic focus on this segment. It has been successful in growing its legacy business and integrating its recent acquisitions. The acquisition of EcoTech Enterprises in July further strengthened the company's position in the water treatment market.
A key driver of the Water Treatment segment's growth has been the company's prudent pricing strategy. In response to rising raw material costs, the company adjusted its selling prices on several products. This pricing strategy has been successful in boosting sales.
While maintaining a prudent stance, the company holds an optimistic view of the Industrial segment. It acknowledges the potential challenges posed by economic pressure that impacts customer demand. Despite this, the company remains confident in its ability to navigate these challenges and sustain its growth momentum.
Furthermore, the company remains committed to enhancing shareholder returns. In fiscal 2023, Hawkins paid dividends worth $12 million and returned $6.6 million to stockholders through repurchases. The company has increased its quarterly dividend by 7% to 16 cents per share.
In the first quarter of fiscal 2024, Hawkins exceeded expectations by reporting earnings of $1.12 per share, which surpassed the Zacks Consensus Estimate of 61 cents. It delivered positive earnings surprises in the last four consecutive quarters, with the average beat being25.6%. The earnings estimates for the current fiscal have been revised upward by 32.3% in the past 60 days. The Zacks Consensus Estimate for fiscal 2024 earnings stands at $3.40 per share, indicating growth of 18.9% from the previous year reported figure.
Hawkins, Inc. Price and Consensus
Hawkins, Inc. price-consensus-chart | Hawkins, Inc. Quote
Zacks Rank & Other Key Picks
Hawkins currently carries a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (CRS - Free Report) and PPG Industries, Inc. (PPG - Free Report) , both sporting a Zacks Rank #1, and L.B. Foster Company (FSTR - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The earnings estimate for CRS’s current year is pegged at $3.36, indicating year-over-year growth of 194%. CRS beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 10%. The company’s shares have rallied 51.8% in the past year.
The Zacks Consensus Estimate for PPG’s current-year earnings has been revised 3.5% upward in the past 60 days. PPG beat the Zacks Consensus Estimate in three of the last four quarters. It delivered a trailing four-quarter earnings surprise of 7.3% on average. The company’s shares have risen roughly 3.1% in the past year.
The consensus estimate for FSTR's current year is pegged at 53 cents, indicating year-over-year growth of 112.5%. FSTR beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 134.5%. The company’s shares have rallied 27.4% in the past year.