Hain Celestial Group (HAIN) Lifted to “Hold” at Zacks Investment Research
Hain Celestial Group (NASDAQ:HAIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Hain Celestial shares have underperformed the industry in the past three months. Stiff competition from companies expanding their presence in the natural & organic food business and foreign currency headwind remain deterrents. However, with an extensive portfolio of well-known brands, it 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 it to target strategic buyout opportunities. In November, the company reported first-quarter fiscal 2018 results wherein the top line beat estimate but the bottom line came in line with the estimate. The company expects to sustain the momentum into fiscal 2018 with net sales projected to increase in the band of 4-6%. Moreover, Hain Celestial being one of the largest suppliers to Whole Foods is viewing its acquisition by Amazon as a lucrative opportunity.”
Several other equities research analysts have also recently weighed in on HAIN. Wells Fargo & Co restated a “market perform” rating and set a $42.00 target price on shares of Hain Celestial Group in a research note on Saturday, September 30th. Sanford C. Bernstein started coverage on Hain Celestial Group in a research note on Friday, October 6th. They set a “market perform” rating and a $45.00 target price for the company. BMO Capital Markets cut Hain Celestial Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $48.00 to $44.00 in a research note on Thursday, October 19th. TheStreet downgraded shares of Hain Celestial Group from a “b-” rating to a “c” rating in a report on Tuesday, November 7th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Hain Celestial Group in a report on Thursday, November 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $41.31.
Hain Celestial Group (NASDAQ:HAIN) last released its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Hain Celestial Group had a return on equity of 8.03% and a net margin of 2.73%. The business had revenue of $708.30 million for the quarter, compared to the consensus estimate of $697.39 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. equities research analysts expect that Hain Celestial Group will post 1.68 earnings per share for the current year.
In related news, SVP Michael B. Mcguinness acquired 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $34.58 per share, for a total transaction of $121,030.00. Following the completion of the acquisition, the senior vice president now directly owns 55,131 shares of the company’s stock, valued at approximately $1,906,429.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Irwin D. Simon acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $34.14 per share, with a total value of $1,707,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,695,014 shares of the company’s stock, valued at $57,867,777.96. The disclosure for this purchase can be found here. Insiders purchased 68,500 shares of company stock valued at $2,352,730 over the last 90 days. 12.34% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HAIN. Saratoga Research & Investment Management acquired a new stake in Hain Celestial Group in the third quarter valued at $124,000. Miles Capital Inc. bought a new stake in Hain Celestial Group during the second quarter valued at $201,000. First National Trust Co. bought a new stake in Hain Celestial Group during the third quarter valued at $201,000. Oakbrook Investments LLC bought a new stake in Hain Celestial Group during the third quarter valued at $202,000. Finally, GSA Capital Partners LLP bought a new stake in Hain Celestial Group during the third quarter valued at $228,000. Institutional investors and hedge funds own 89.99% of the company’s stock.
About 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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