The Hain Celestial Group’s (HAIN) Buy Rating Reiterated at Maxim Group
Maxim Group reiterated their buy rating on shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) in a research report released on Tuesday morning. They currently have a $50.00 price target on the stock.
“F4Q17 (Jun) total adjusted net sales of $725.1M, up 2.1% y/y on a constant currency basis, was relatively inline with our estimate of $725.0M, but slightly above consensus of $719.5M.”,” Maxim Group’s analyst wrote.
Several other research analysts have also weighed in on the stock. Susquehanna Bancshares Inc set a $45.00 price objective on shares of The Hain Celestial Group and gave the company a hold rating in a research note on Tuesday. Jefferies Group LLC reiterated a buy rating and issued a $52.00 price objective on shares of The Hain Celestial Group in a research note on Monday, August 28th. UBS AG lowered shares of The Hain Celestial Group from a positive rating to a neutral rating in a research note on Tuesday, August 22nd. BidaskClub lowered shares of The Hain Celestial Group from a buy rating to a hold rating in a research note on Wednesday, August 9th. Finally, Loop Capital assumed coverage on shares of The Hain Celestial Group in a research note on Monday, July 31st. They issued a hold rating and a $46.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $41.45.
Shares of The Hain Celestial Group (NASDAQ:HAIN) traded down 1.64% during mid-day trading on Tuesday, hitting $39.56. 1,599,323 shares of the stock traded hands. The stock has a 50-day moving average of $42.38 and a 200-day moving average of $37.83. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 60.86 and a beta of 1.25. The Hain Celestial Group has a 52 week low of $31.01 and a 52 week high of $45.61.
The Hain Celestial Group (NASDAQ:HAIN) last released its quarterly earnings data on Tuesday, August 29th. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The firm had revenue of $725.10 million for the quarter, compared to analyst estimates of $720.70 million. The Hain Celestial Group had a net margin of 2.36% and a return on equity of 6.93%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. Analysts anticipate that The Hain Celestial Group will post $1.66 EPS for the current year.
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The Hain Celestial Group declared that its board has initiated a share repurchase 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 management believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in The Hain Celestial Group by 10,665.5% in the first quarter. BlackRock Inc. now owns 8,539,738 shares of the company’s stock worth $317,676,000 after buying an additional 8,460,413 shares during the last quarter. Vanguard Group Inc. raised its position in The Hain Celestial Group by 1.3% in the second quarter. Vanguard Group Inc. now owns 8,339,036 shares of the company’s stock worth $323,722,000 after buying an additional 104,034 shares during the last quarter. FMR LLC raised its position in The Hain Celestial Group by 40.0% in the first quarter. FMR LLC now owns 7,899,213 shares of the company’s stock worth $293,851,000 after buying an additional 2,258,735 shares during the last quarter. Glenview Capital Management LLC purchased a new position in The Hain Celestial Group during the first quarter worth about $102,266,000. Finally, State Street Corp raised its position in The Hain Celestial Group by 2.1% in the first quarter. State Street Corp now owns 2,634,916 shares of the company’s stock worth $98,012,000 after buying an additional 54,009 shares during the last quarter. Institutional investors and hedge funds own 92.29% 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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