The Hain Celestial Group, Inc. (HAIN) Shares Gap Up to $40.71
Shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) gapped up before the market opened on Friday . The stock had previously closed at $37.92, but opened at $40.71. The Hain Celestial Group shares last traded at $41.70, with a volume of 1,046,230 shares traded.
Several analysts have issued reports on the stock. UBS AG reaffirmed a “sell” rating and set a $31.00 price target (down from $33.00) on shares of The Hain Celestial Group in a research report on Sunday, June 25th. Wells Fargo & Company set a $42.00 price target on shares of The Hain Celestial Group and gave the stock a “hold” rating in a research report on Saturday, July 1st. BidaskClub lowered shares of The Hain Celestial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Susquehanna Bancshares Inc lowered shares of The Hain Celestial Group from a “positive” rating to a “neutral” rating in a research report on Tuesday, August 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $50.00 price objective on shares of The Hain Celestial Group in a research report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.28.
The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 63.31 and a beta of 1.25. The company’s 50-day moving average is $41.62 and its 200-day moving average is $38.31.
The Hain Celestial Group (NASDAQ:HAIN) last announced its quarterly earnings data on Tuesday, August 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. The Hain Celestial Group had a return on equity of 7.65% and a net margin of 2.36%. The business had revenue of $725.10 million for the quarter, compared to analysts’ expectations of $720.70 million. During the same period in the previous year, the business posted $0.43 EPS. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. Analysts anticipate that The Hain Celestial Group, Inc. will post $1.66 EPS for the current fiscal year.
The Hain Celestial Group announced that its Board of Directors has initiated a share buyback plan on Thursday, June 22nd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in HAIN. BlackRock Inc. raised its stake in The Hain Celestial Group by 10,665.5% in the 1st quarter. BlackRock Inc. now owns 8,539,738 shares of the company’s stock valued at $317,676,000 after acquiring an additional 8,460,413 shares during the period. Glenview Capital Management LLC bought a new stake in The Hain Celestial Group in the 1st quarter valued at about $102,266,000. FMR LLC raised its stake in The Hain Celestial Group by 40.0% in the 1st quarter. FMR LLC now owns 7,899,213 shares of the company’s stock valued at $293,851,000 after acquiring an additional 2,258,735 shares during the period. Engaged Capital LLC bought a new stake in The Hain Celestial Group in the 1st quarter valued at about $70,208,000. Finally, Black Creek Investment Management Inc. bought a new stake in The Hain Celestial Group in the 2nd quarter valued at about $30,283,000. Institutional investors and hedge funds own 91.97% of the company’s stock.
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About The Hain Celestial Group
The Hain Celestial Group, Inc is an organic and natural products company. The Company and its subsidiaries manufacture, market, distribute and sell organic and natural products under brand names which are sold as better-for-you products. The Company’s segments include United States, United Kingdom, Hain Pure Protein and Rest of World.
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