Zacks Investment Research upgraded shares of Hain Celestial Group (NASDAQ:HAIN) from a sell rating to a hold rating in a report released on Wednesday.
According to Zacks, “Hain Celestial, which has lagged the industry year to date, marked its third straight negative sales surprise in fourth-quarter fiscal 2018. The company continued to be hurt by softness in its U.S. segment, wherein sales were partly impacted by SKU rationalization. Also, higher trade and promotional investments in the United States along with escalated freight and commodity costs hurt margins and dented Hain Celestial’s bottom line. While these hurdles are expected to linger, the company is likely to get some respite from Project Terra, which generated cost savings of nearly $63 million during fiscal 2018. Also, management remains on track to revert its U.S. business to growth in fiscal 2019, wherein it expects improved top and bottom lines. However, growth is expected to be more weighted toward the second half, as the company anticipates to reap the benefits from its U.S. brand investments, distribution gains and pricing efforts.”
Several other equities analysts also recently weighed in on HAIN. UBS Group set a $28.00 target price on Hain Celestial Group and gave the company a sell rating in a research report on Tuesday, May 1st. ValuEngine downgraded Hain Celestial Group from a sell rating to a strong sell rating in a research report on Wednesday, May 2nd. Susquehanna Bancshares set a $32.00 target price on Hain Celestial Group and gave the company a hold rating in a research report on Monday, May 7th. Jefferies Financial Group reiterated a buy rating and set a $40.00 target price on shares of Hain Celestial Group in a research report on Tuesday, May 8th. Finally, Maxim Group reiterated a buy rating and set a $40.00 target price (down from $50.00) on shares of Hain Celestial Group in a research report on Tuesday, May 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Hain Celestial Group currently has a consensus rating of Hold and an average price target of $34.88.
NASDAQ HAIN opened at $27.57 on Wednesday. The firm has a market cap of $3.10 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.70 and a beta of 0.96. The company has a current ratio of 2.79, a quick ratio of 1.83 and a debt-to-equity ratio of 0.39. Hain Celestial Group has a fifty-two week low of $25.41 and a fifty-two week high of $44.37.
Hain Celestial Group (NASDAQ:HAIN) last released its earnings results on Tuesday, August 28th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $619.60 million for the quarter, compared to the consensus estimate of $629.25 million. Hain Celestial Group had a return on equity of 8.32% and a net margin of 2.81%. Hain Celestial Group’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. equities research analysts anticipate that Hain Celestial Group will post 1.32 EPS for the current year.
Several institutional investors have recently made changes to their positions in HAIN. Wallace Capital Management Inc. lifted its position in shares of Hain Celestial Group by 44.3% in the second quarter. Wallace Capital Management Inc. now owns 377,029 shares of the company’s stock worth $11,235,000 after buying an additional 115,735 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Hain Celestial Group by 46.3% in the second quarter. Bank of New York Mellon Corp now owns 1,723,433 shares of the company’s stock worth $51,358,000 after buying an additional 545,113 shares in the last quarter. Steel Partners Holdings L.P. purchased a new stake in shares of Hain Celestial Group in the second quarter worth about $745,000. Global X Management Co LLC lifted its position in shares of Hain Celestial Group by 113.7% in the second quarter. Global X Management Co LLC now owns 4,937 shares of the company’s stock worth $147,000 after buying an additional 2,627 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Hain Celestial Group by 26.6% in the second quarter. California Public Employees Retirement System now owns 267,704 shares of the company’s stock worth $7,978,000 after buying an additional 56,173 shares in the last quarter. Institutional investors and hedge funds own 88.13% of the company’s stock.
Hain Celestial Group Company Profile
The Hain Celestial Group, Inc manufactures, markets, distributes, and sells organic and natural products. Its grocery products include infant formula; infant, toddler, and kids foods; diapers and wipes; rice and grain-based products; flour and baking mixes; breads, hot and cold cereals, pasta, condiments, cooking and culinary oils, granolas, and cereal bars; canned, chilled fresh, aseptic, and instant soups; Greek-style yogurts; chilies and packaged grains; chocolates; and nut butters, as well as plant-based beverages and frozen desserts, such as soy, rice, oat, almond, and coconut.
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