CJS Securities Downgrades Hillenbrand from Market Outperform to Market Perform, PT $32.

CJS Securities Downgrades Hillenbrand from Market Outperform to Market Perform, PT $32.

CJS Securities has downgraded Hillenbrand (NYSE:HI) from an "outperform" rating to a "market perform" rating, setting a price target of $32.00. This move suggests a potential upside of 2.09% from the company's previous close. The downgrade comes amidst a series of ratings adjustments from various research firms, with the consensus rating currently being a "Hold" and an average target price of $32.00, according to Zacks Research.

Hillenbrand reported earnings of $0.51 per share in its last quarterly results, slightly beating estimates, but its revenue declined by 23.9% year-over-year. This decline has raised concerns about the company's future growth potential, contributing to the downgrade, as noted by Zacks Research.

The stock opened at $31.35 on Thursday, with a current ratio of 1.25, a quick ratio of 0.87, and a debt-to-equity ratio of 1.23. Hillenbrand's fifty-day simple moving average is $25.19, and its two-hundred-day simple moving average is $22.48, details highlighted in the MarketBeat alert.

Institutional investors have also been active in Hillenbrand's stock. Osaic Holdings Inc. increased its position by 74.0% in the second quarter, while GAMMA Investing LLC grew its position by 65.9% during the first quarter. Public Employees Retirement System of Ohio and BI Asset Management Fondsmaeglerselskab A S also increased their holdings in the company, according to the MarketBeat note.

Hillenbrand operates as an industrial company in the United States and internationally, with its Advanced Process Solutions and Molding Technology Solutions segments driving its operations. The company designs, engineers, manufactures, and markets process and material handling equipment and systems, as well as offers mixing technology and ingredient automation services, per Zacks Research.

Investors should closely monitor Hillenbrand's future earnings reports and guidance to assess the validity of the downgrade and potential impact on the stock price.