Hain Celestial Group (HAIN) Downgraded to Sell at Zacks Investment Research

Hain Celestial Group (NASDAQ:HAIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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.”

Several other equities research analysts have also issued reports on HAIN. Susquehanna Bancshares reiterated a “hold” rating and issued a $45.00 price target on shares of Hain Celestial Group in a research note on Thursday, September 14th. Wells Fargo & Co reiterated a “market perform” rating and issued a $42.00 price target on shares of Hain Celestial Group in a research note on Saturday, September 30th. Sanford C. Bernstein initiated coverage on shares of Hain Celestial Group in a research note on Friday, October 6th. They issued a “market perform” rating and a $45.00 price target on the stock. BMO Capital Markets lowered shares of Hain Celestial Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $48.00 to $44.00 in a research note on Thursday, October 19th. Finally, TheStreet lowered shares of Hain Celestial Group from a “b-” rating to a “c” rating in a research note on Tuesday, November 7th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.31.

Shares of Hain Celestial Group (HAIN) traded down $0.67 during trading hours on Tuesday, hitting $40.40. 569,426 shares of the company were exchanged, compared to its average volume of 977,440. Hain Celestial Group has a fifty-two week low of $31.01 and a fifty-two week high of $45.61. The company has a current ratio of 2.50, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $4,280.00, a price-to-earnings ratio of 53.87, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25.

Hain Celestial Group (NASDAQ:HAIN) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Hain Celestial Group had a net margin of 2.73% and a return on equity of 8.03%. The business had revenue of $708.30 million during the quarter, compared to analyst estimates of $697.39 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts predict that Hain Celestial Group will post 1.66 earnings per share for the current year.

In related news, CEO Irwin D. Simon bought 50,000 shares of Hain Celestial Group stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average price of $34.14 per share, with a total value of $1,707,000.00. Following the acquisition, the chief executive officer now owns 1,695,014 shares of the company’s stock, valued at approximately $57,867,777.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James M. Langrock bought 5,000 shares of Hain Celestial Group stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average cost of $34.40 per share, with a total value of $172,000.00. Following the acquisition, the chief financial officer now directly owns 59,233 shares in the company, valued at approximately $2,037,615.20. The disclosure for this purchase can be found here. Insiders have purchased a total of 68,500 shares of company stock valued at $2,352,730 in the last ninety days. 12.34% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Saratoga Research & Investment Management bought a new stake in shares of Hain Celestial Group during the 3rd quarter worth about $124,000. First National Trust Co. bought a new stake in Hain Celestial Group in the 3rd quarter valued at about $201,000. Oakbrook Investments LLC bought a new stake in Hain Celestial Group in the 3rd quarter valued at about $202,000. Miles Capital Inc. bought a new stake in Hain Celestial Group in the 2nd quarter valued at about $201,000. Finally, GSA Capital Partners LLP bought a new stake in Hain Celestial Group in the 3rd quarter valued at about $228,000. 89.95% of the stock is owned by institutional investors and hedge funds.

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About 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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