Herbalife (NYSE:HLF) Stock Price Target Raised at Argus

Herbalife (NYSE:HLF) had its price target increased by analysts at Argus from $15.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Argus‘s price target would suggest a potential upside of 28.45% from the company’s current price.

Several other analysts also recently weighed in on HLF. UBS Group set a $21.00 price target on shares of Herbalife in a research note on Thursday, September 17th. Wall Street Zen raised Herbalife from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Research cut Herbalife from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 29th. Citigroup restated a “buy” rating and set a $17.00 price objective (down from $21.00) on shares of Herbalife in a report on Friday, August 7th. Finally, Texas Capital raised Herbalife to a “strong-buy” rating in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Herbalife has an average rating of “Moderate Buy” and an average target price of $18.50.

Herbalife Price Performance

HLF stock opened at $15.57 on Wednesday. The company has a market capitalization of $1.63 billion, a PE ratio of 9.25, a P/E/G ratio of 0.49 and a beta of 0.74. Herbalife has a 12 month low of $8.65 and a 12 month high of $20.40. The firm’s 50-day moving average is $13.08 and its 200 day moving average is $13.95.

Herbalife (NYSE:HLF) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. Herbalife had a net margin of 3.41% and a negative return on equity of 52.54%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. Sell-side analysts forecast that Herbalife will post 2.68 EPS for the current fiscal year.

Herbalife declared that its board has approved a stock buyback program on Tuesday, September 8th that authorizes the company to repurchase $250 million in shares. This repurchase authorization authorizes the company to buy up to 19.3% of its stock through open market purchases. Share repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Herbalife

A number of large investors have recently added to or reduced their stakes in HLF. Landscape Capital Management L.L.C. purchased a new stake in shares of Herbalife during the third quarter valued at about $3,533,000. Clark Estates Inc. NY purchased a new position in shares of Herbalife in the 3rd quarter worth approximately $2,632,000. Pekin Hardy Strauss Inc. grew its position in shares of Herbalife by 0.7% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 316,170 shares of the company’s stock worth $3,835,000 after buying an additional 2,176 shares during the last quarter. Vise Technologies Inc. bought a new position in shares of Herbalife during the 3rd quarter worth approximately $160,000. Finally, State of Wyoming raised its stake in shares of Herbalife by 78.3% during the 3rd quarter. State of Wyoming now owns 66,845 shares of the company’s stock worth $811,000 after acquiring an additional 29,361 shares in the last quarter.

About Herbalife

Herbalife Ltd. is a global nutrition company that develops and sells products focused on nutrition, weight management, fitness and personal care. Its offerings include meal-replacement shakes, protein products, dietary supplements, teas and sports-nutrition products. Founded in 1980 by Mark Hughes, Herbalife sells its products through a network of independent distributors who also provide product information and support to customers. The company serves customers in markets around the world and is headquartered in Los Angeles, California.