Zacks Investment Research Upgrades Hain Celestial Group (HAIN) to Hold
Zacks Investment Research upgraded shares of Hain Celestial Group (NASDAQ:HAIN) from a sell rating to a hold rating in a report issued on Tuesday morning.
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.”
Other equities analysts have also issued reports about the company. Jefferies Group reaffirmed a buy rating and issued a $52.00 price target on shares of Hain Celestial Group in a report on Friday, November 17th. TheStreet lowered Hain Celestial Group from a b- rating to a c rating in a report on Tuesday, November 7th. Loop Capital set a $38.00 price objective on Hain Celestial Group and gave the stock a hold rating in a research report on Thursday, December 28th. SunTrust Banks reiterated a hold rating and issued a $35.00 price objective on shares of Hain Celestial Group in a research report on Friday, November 10th. Finally, Royal Bank of Canada reiterated a hold rating on shares of Hain Celestial Group in a research report on Thursday, November 9th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $41.31.
Hain Celestial Group (NASDAQ:HAIN) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 EPS for the quarter, missing the Zacks’ 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 company had revenue of $708.30 million during the quarter, compared to the consensus estimate of $697.39 million. During the same period in the previous year, the business earned $0.14 earnings per share. Hain Celestial Group’s revenue was up 3.9% on a year-over-year basis. research analysts forecast that Hain Celestial Group will post 1.68 earnings per share for the current year.
In other news, SVP Michael B. Mcguinness purchased 3,500 shares of the stock in a transaction on Thursday, November 9th. The shares were acquired at an average price of $34.58 per share, for a total transaction of $121,030.00. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Also, Director Richard Dean Hollis purchased 10,000 shares of the stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $35.27 per share, for a total transaction of $352,700.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $352,700. The disclosure for this purchase can be found here. Insiders purchased 68,500 shares of company stock worth $2,352,730 in the last quarter. 12.34% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Hain Celestial Group by 1.3% during the second quarter. Vanguard Group Inc. now owns 8,339,036 shares of the company’s stock valued at $323,722,000 after purchasing an additional 104,034 shares in the last quarter. Point72 Asset Management L.P. raised its position in Hain Celestial Group by 104.2% during the third quarter. Point72 Asset Management L.P. now owns 1,752,500 shares of the company’s stock valued at $72,115,000 after purchasing an additional 894,300 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Hain Celestial Group by 15.5% in the third quarter. Schroder Investment Management Group now owns 1,622,139 shares of the company’s stock worth $66,037,000 after buying an additional 217,434 shares during the period. Anchor Capital Advisors LLC increased its holdings in shares of Hain Celestial Group by 10.4% in the third quarter. Anchor Capital Advisors LLC now owns 1,151,697 shares of the company’s stock worth $47,392,000 after buying an additional 108,737 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Hain Celestial Group by 10.4% in the second quarter. Renaissance Technologies LLC now owns 824,522 shares of the company’s stock worth $32,008,000 after buying an additional 77,900 shares during the period. Institutional investors and hedge funds own 89.99% of the company’s stock.
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Hain Celestial Group Company Profile
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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