Zacks Investment Research Upgrades The Hain Celestial Group Inc. (HAIN) to Hold
The Hain Celestial Group Inc. (NASDAQ:HAIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “With an extensive portfolio of well-known brands, Hain Celestial offers investors one of the strongest growth profiles in the industry. Acquisitions have been a key part of the company’s strategy to build market share. A healthy balance sheet enables the company to target strategic acquisition opportunities, which result in incremental sales and provide the company a strong foothold in the packaged food and grocery market. However, with the gradual increase in the number of companies expanding their presence in the natural & organic food business, competition is likely to be stiff and may hurt the company’s top line. Due to internal evaluation the company has delayed the release of its fourth-quarter results, and also informed that it does not expect to attain its earlier announced guidance for fiscal 2016. After review, the Audit Committee did not find any proof of deliberate wrongdoing related to the financial results.”
Several other research analysts have also commented on the stock. SunTrust Banks Inc. restated a “hold” rating on shares of The Hain Celestial Group in a research note on Sunday. Atlantic Securities upgraded shares of The Hain Celestial Group from an “underweight” rating to a “neutral” rating in a research note on Friday. Bank of America Corp. upgraded shares of The Hain Celestial Group from an “underperform” rating to a “neutral” rating and set a $41.00 price target on the stock in a research note on Friday. Jefferies Group restated a “buy” rating and set a $50.00 price target on shares of The Hain Celestial Group in a research note on Thursday, November 17th. Finally, Susquehanna began coverage on shares of The Hain Celestial Group in a research note on Monday, October 24th. They set a “positive” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.43.
Shares of The Hain Celestial Group (NASDAQ:HAIN) traded down 0.68% during midday trading on Tuesday, hitting $39.18. 805,039 shares of the stock were exchanged. The firm has a market cap of $4.05 billion, a P/E ratio of 19.61 and a beta of 0.93. The stock’s 50 day moving average is $36.07 and its 200 day moving average is $43.27. The Hain Celestial Group has a 12-month low of $33.12 and a 12-month high of $56.99.
A number of institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its stake in The Hain Celestial Group by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the company’s stock valued at $109,000 after buying an additional 600 shares during the last quarter. Commonwealth Bank of Australia bought a new stake in The Hain Celestial Group during the third quarter valued at $125,000. Huntington National Bank boosted its stake in The Hain Celestial Group by 69.4% in the second quarter. Huntington National Bank now owns 2,761 shares of the company’s stock valued at $137,000 after buying an additional 1,131 shares during the last quarter. FineMark National Bank & Trust boosted its stake in The Hain Celestial Group by 501.8% in the third quarter. FineMark National Bank & Trust now owns 3,990 shares of the company’s stock valued at $142,000 after buying an additional 3,327 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in The Hain Celestial Group by 40.0% in the second quarter. IFP Advisors Inc now owns 2,983 shares of the company’s stock valued at $148,000 after buying an additional 853 shares during the last quarter. 83.69% of the stock is owned by hedge funds and other institutional investors.
About The Hain Celestial Group
The Hain Celestial Group, Inc manufactures, markets, distributes and sells organic and natural products under brand names, which are sold as better-for-you products. The Company operates in five segments: the United States, the United Kingdom, Canada, Europe and Hain Pure Protein. The Company’s brands include Almond Dream, Arrowhead Mills, BluePrint, Celestial Seasonings, Cully & Sully, Danival, DeBoles, Earth’s Best, Ella’s Kitchen, Europe’s Best, Farmhouse Fare, Frank Cooper’s, Gale’s, Garden of Eatin’, GG UniqueFiber, Hartley’s, Health Valley, Imagine, Johnson’s Juice Co, Lima, Linda McCartney, MaraNatha, New Covent Garden Soup Co, Rice Dream, Robertson’s, Rudi’s Organic Bakery, Rudi’s Gluten-Free Bakery, Sensible Portions, Spectrum, Spectrum Essentials and Soy Dream, among others.
Receive News & Stock Ratings for The Hain Celestial Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hain Celestial Group Inc. and related stocks with our FREE daily email newsletter.