The Hain Celestial Group, Inc. (HAIN) Lowered to “Hold” at 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 research report released 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.”
HAIN has been the subject of several other reports. Maxim Group reiterated a buy rating and set a $50.00 target price on shares of The Hain Celestial Group in a research report on Tuesday, August 29th. Barclays PLC reiterated a hold rating and set a $39.00 target price on shares of The Hain Celestial Group in a research report on Friday, September 1st. Jefferies Group LLC reiterated a buy rating and set a $52.00 target price on shares of The Hain Celestial Group in a research report on Monday, August 28th. Sanford C. Bernstein upgraded The Hain Celestial Group from a market perform rating to an outperform rating and set a $45.00 target price for the company in a research report on Wednesday. Finally, Buckingham Research lifted their target price on The Hain Celestial Group from $34.00 to $37.00 and gave the stock a neutral rating in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $41.29.
The Hain Celestial Group (NASDAQ:HAIN) traded up $1.27 during midday trading on Thursday, reaching $35.68. 1,868,900 shares of the company’s stock traded hands, compared to its average volume of 1,668,701. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.50 and a quick ratio of 1.31. The stock has a market capitalization of $3,703.30, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21. 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 posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $708.30 million for the quarter, compared to analysts’ expectations of $697.39 million. The Hain Celestial Group had a return on equity of 8.03% and a net margin of 2.73%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share. research analysts anticipate that The Hain Celestial Group will post 1.67 EPS for the current fiscal year.
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In other news, CEO Irwin D. Simon bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average price of $34.14 per share, for a total transaction of $1,707,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,695,014 shares in the company, valued at $57,867,777.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael B. Mcguinness bought 3,500 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average price of $34.58 per share, for a total transaction of $121,030.00. Following the transaction, the senior vice president now owns 55,131 shares of the company’s stock, valued at $1,906,429.98. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 58,500 shares of company stock worth $2,000,030. 12.34% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings 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 valued at $323,722,000 after acquiring an additional 104,034 shares during the period. State Street Corp lifted its holdings 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 valued at $98,012,000 after acquiring an additional 54,009 shares during the period. Bank of New York Mellon Corp lifted its holdings in The Hain Celestial Group by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 2,013,304 shares of the company’s stock valued at $78,157,000 after acquiring an additional 133,141 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in The Hain Celestial Group by 33.3% in the second 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 acquiring an additional 500,000 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in The 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 valued at $66,037,000 after acquiring an additional 217,434 shares during the period. Hedge funds and other institutional investors own 90.70% 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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