The Hain Celestial Group, Inc. (HAIN) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) from a buy rating to a hold rating in a report published on Thursday.
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 it to target strategic buyout opportunities and provide it a strong foothold in the packaged food and grocery market. Recently, 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. However, stiff competition from companies expanding their presence in the natural & organic food business and foreign currency headwind remain deterrents.”
Several other equities research analysts also recently weighed in on the stock. TheStreet downgraded shares of The Hain Celestial Group from a b- rating to a c rating in a research report on Tuesday, November 7th. Sanford C. Bernstein raised shares of The Hain Celestial Group from a market perform rating to an outperform rating and set a $45.00 price target for the company in a research report on Wednesday, November 8th. BMO Capital Markets downgraded shares of The Hain Celestial Group from an outperform rating to a market perform rating and reduced their price target for the company from $48.00 to $44.00 in a research report on Thursday, October 19th. Wells Fargo & Company reissued a market perform rating and set a $42.00 price target on shares of The Hain Celestial Group in a research report on Saturday, September 30th. Finally, Susquehanna Bancshares Inc reissued a hold rating and set a $45.00 price target on shares of The Hain Celestial Group in a research report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. The Hain Celestial Group has a consensus rating of Hold and a consensus target price of $41.29.
Shares of The Hain Celestial Group (HAIN) traded up $1.27 on Thursday, hitting $35.68. 1,868,900 shares of the company traded hands, compared to its average volume of 1,701,853. The company has a market capitalization of $3,703.29, a P/E ratio of 27.24, a P/E/G ratio of 1.64 and a beta of 1.21. The company has a quick ratio of 1.22, a current ratio of 2.50 and a debt-to-equity ratio of 0.42. The Hain Celestial Group has a 12 month low of $31.01 and a 12 month high of $45.61.
The Hain Celestial Group (NASDAQ:HAIN) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The firm had revenue of $708.30 million for the quarter, compared to the consensus estimate of $697.39 million. The Hain Celestial Group had a net margin of 2.73% and a return on equity of 8.03%. The Hain Celestial Group’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $0.14 EPS. equities analysts predict that The Hain Celestial Group will post 1.67 earnings per share for the current fiscal year.
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In other news, Director Richard Dean Hollis bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average price of $35.27 per share, with a total value of $352,700.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $352,700. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael B. Mcguinness bought 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of $34.58 per share, with a total value of $121,030.00. Following the transaction, the senior vice president now directly owns 55,131 shares of the company’s stock, valued at $1,906,429.98. The disclosure for this purchase can be found here. Insiders have purchased 68,500 shares of company stock valued at $2,352,730 in the last three months. 12.34% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of HAIN. Strs Ohio acquired a new position in The Hain Celestial Group during the 3rd quarter valued at approximately $32,144,000. Black Creek Investment Management Inc. acquired a new position in The Hain Celestial Group during the 2nd quarter valued at approximately $30,283,000. Eagle Asset Management Inc. acquired a new position in The Hain Celestial Group during the 3rd quarter valued at approximately $32,091,000. State of New Jersey Common Pension Fund D increased its stake in The Hain Celestial Group by 33.3% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 2,000,000 shares of the company’s stock valued at $77,640,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new position in The Hain Celestial Group during the 2nd quarter valued at approximately $13,584,000. Institutional investors and hedge funds own 89.04% of the company’s stock.
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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