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Here's What Makes Hawkins (HWKN) Stock a Solid Choice Right Now
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Hawkins, Inc (HWKN - Free Report) has experienced a 27.7% increase in its stock value in a month, primarily driven by its solid fiscal first-quarter performance that exceeded expectations.
The stock offers an attractive investment opportunity with strong growth prospects. It sports a Zacks Rank #1 (Strong Buy).
Positive Earnings Surprise History
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. Also, the company exceeded earnings forecasts in the past four quarters, showcasing an impressive average surprise of 25.6%.
Healthy Growth Potential
The Zacks Consensus Estimate for fiscal 2024 earnings is currently pegged at $3.40, implying year-over-year growth of 18.9%. The consensus estimate for earnings for the current fiscal year has also been revised upward by 32.3% in the past 60 days.
An Outperformer
Shares of HWKN are up 46.1% in a year compared with the industry’s rise of 9.6% in the same period.
Image Source: Zacks Investment Research
Water Treatment Driving Growth
In the first quarter of fiscal 2024, the company delivered strong results, with a remarkable 101.8% increase in net income compared to the previous quarter. This success was mirrored by a 10% rise in revenues from the prior quarter.
Particularly noteworthywas the outstanding performance of the Water Treatment segment, which saw a 19% year-over-year revenue increase and an impressive 70% growth in operating income. The recent buyout of EcoTech Enterprises in July further fortified the company's standing in the water treatment market.
A central driver behind the Water Treatment segment's expansion has been the company's astute pricing strategy. In response to escalating raw material expenses, the company adapted its pricing for various products, effectively boosting sales.
Additionally, the company is committed to enhancing shareholder value, evident in its $12 million dividends and $6.6 million stock repurchases in fiscal 2023. This commitment is underscored by a 7% increase in the quarterly dividend to 16 cents per share.
The earnings estimate for Carpenter Technology’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 70.5% in the past year.
The Zacks Consensus Estimate for Andersons’ current-year earnings has been revised 21.8% upward in the past 60 days. ANDE beat the Zacks Consensus Estimate in the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4% on average. The company’s shares have risen roughly 39.6% in the past year.
The consensus estimate for Livent’s current-year earnings is pegged at $2.12, indicating year-over-year growth of 51.4%. In the past 60 days, LTHM’s current-year earnings estimate has been revised upward by 3.4%. LTHM beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 19%.
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Here's What Makes Hawkins (HWKN) Stock a Solid Choice Right Now
Hawkins, Inc (HWKN - Free Report) has experienced a 27.7% increase in its stock value in a month, primarily driven by its solid fiscal first-quarter performance that exceeded expectations.
The stock offers an attractive investment opportunity with strong growth prospects. It sports a Zacks Rank #1 (Strong Buy).
Positive Earnings Surprise History
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. Also, the company exceeded earnings forecasts in the past four quarters, showcasing an impressive average surprise of 25.6%.
Healthy Growth Potential
The Zacks Consensus Estimate for fiscal 2024 earnings is currently pegged at $3.40, implying year-over-year growth of 18.9%. The consensus estimate for earnings for the current fiscal year has also been revised upward by 32.3% in the past 60 days.
An Outperformer
Shares of HWKN are up 46.1% in a year compared with the industry’s rise of 9.6% in the same period.
Image Source: Zacks Investment Research
Water Treatment Driving Growth
In the first quarter of fiscal 2024, the company delivered strong results, with a remarkable 101.8% increase in net income compared to the previous quarter. This success was mirrored by a 10% rise in revenues from the prior quarter.
Particularly noteworthywas the outstanding performance of the Water Treatment segment, which saw a 19% year-over-year revenue increase and an impressive 70% growth in operating income. The recent buyout of EcoTech Enterprises in July further fortified the company's standing in the water treatment market.
A central driver behind the Water Treatment segment's expansion has been the company's astute pricing strategy. In response to escalating raw material expenses, the company adapted its pricing for various products, effectively boosting sales.
Additionally, the company is committed to enhancing shareholder value, evident in its $12 million dividends and $6.6 million stock repurchases in fiscal 2023. This commitment is underscored by a 7% increase in the quarterly dividend to 16 cents per share.
Hawkins, Inc. Price and Consensus
Hawkins, Inc. price-consensus-chart | Hawkins, Inc. Quote
Other Key Picks
Some other top-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (CRS - Free Report) and The Andersons, Inc. (ANDE - Free Report) , both sporting a Zacks Rank #1, and Livent Corporation , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The earnings estimate for Carpenter Technology’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 70.5% in the past year.
The Zacks Consensus Estimate for Andersons’ current-year earnings has been revised 21.8% upward in the past 60 days. ANDE beat the Zacks Consensus Estimate in the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4% on average. The company’s shares have risen roughly 39.6% in the past year.
The consensus estimate for Livent’s current-year earnings is pegged at $2.12, indicating year-over-year growth of 51.4%. In the past 60 days, LTHM’s current-year earnings estimate has been revised upward by 3.4%. LTHM beat the Zacks Consensus Estimate in all the last four quarters, with the average earnings surprise being 19%.