The Hain Celestial Group, Inc. (NASDAQ:HAIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $46.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 11.70% from the company’s previous close.
According to Zacks, “With an extensive portfolio of well-known brands, Hain Celestial offers investors one of the strongest growth profiles in the industry. We note that the stock has outpaced the industry in the past six months. 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 the company a strong foothold in the packaged food and grocery market. Following better-than-expected fourth-quarter fiscal 2017 results, 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.”
Several other equities analysts have also issued reports on HAIN. Susquehanna Bancshares Inc set a $44.00 target price on shares of The Hain Celestial Group and gave the company a “buy” rating in a report on Tuesday, June 13th. Jefferies Group LLC reiterated a “buy” rating on shares of The Hain Celestial Group in a report on Friday, June 16th. J P Morgan Chase & Co lowered shares of The Hain Celestial Group from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $43.00 to $35.00 in a report on Friday, June 23rd. UBS AG reiterated a “sell” rating and set a $31.00 target price (down from $33.00) on shares of The Hain Celestial Group in a report on Sunday, June 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $38.00 target price (down from $45.00) on shares of The Hain Celestial Group in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. The Hain Celestial Group presently has a consensus rating of “Hold” and a consensus target price of $41.78.
The Hain Celestial Group (NASDAQ:HAIN) last released its earnings results on Tuesday, August 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The Hain Celestial Group had a net margin of 2.36% and a return on equity of 7.65%. The firm had revenue of $725.10 million during the quarter, compared to analyst estimates of $720.70 million. During the same period last year, the business earned $0.43 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that The Hain Celestial Group will post $1.66 earnings per share for the current fiscal year.
The Hain Celestial Group announced that its board has approved a share repurchase program on Thursday, June 22nd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
A number of large investors have recently bought and sold shares of HAIN. BlackRock Inc. grew its position in The Hain Celestial Group by 10,665.5% in the 1st quarter. BlackRock Inc. now owns 8,539,738 shares of the company’s stock worth $317,676,000 after purchasing an additional 8,460,413 shares during the period. Glenview Capital Management LLC bought a new stake in The Hain Celestial Group in the 1st quarter worth approximately $102,266,000. Engaged Capital LLC bought a new stake in The Hain Celestial Group in the 1st quarter worth approximately $70,208,000. Black Creek Investment Management Inc. bought a new stake in The Hain Celestial Group in the 2nd quarter worth approximately $30,283,000. Finally, Litespeed Management L.L.C. bought a new stake in The Hain Celestial Group in the 1st quarter worth approximately $19,916,000. 91.97% of the stock is owned by institutional investors and hedge funds.
The 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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