The Hain Celestial Group Downgraded by Jefferies Group to Hold (HAIN)
The Hain Celestial Group (NASDAQ:HAIN) was downgraded by investment analysts at Jefferies Group from a “buy” rating to a “hold” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $97.00 price objective on the stock. Jefferies Group’s target price would suggest a potential upside of 6.14% from the company’s current price.
The analysts wrote, “We are transitioning coverage and moving to Hold with the stock near our $97 PT. We continue to view HAIN as one of the fastest and most consistent growing U.S. packaged food companies in the mid-cap space; however, at 25x NTM P/E, the stock now trades at relative parity vs. its organic/natural peers vs. a 32% discount less than two years ago. It’s a high bar for the stock in the current environment and we struggle to see much room for multiple expansion.”
Several other analysts have also recently commented on the stock. Analysts at Argus raised their price target on shares of The Hain Celestial Group from $98.00 to $103.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Hain Celestial Group in a research note on Wednesday, May 14th. They now have a $99.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of The Hain Celestial Group from $98.00 to $103.00 in a research note on Friday, May 9th. They now have an “overweight” rating on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The Hain Celestial Group currently has an average rating of “Buy” and an average target price of $96.45.
The Hain Celestial Group (NASDAQ:HAIN) opened at 91.39 on Friday. The Hain Celestial Group has a 1-year low of $62.85 and a 1-year high of $98.83. The stock’s 50-day moving average is $88.58 and its 200-day moving average is $88.48. The company has a market cap of $4.580 billion and a P/E ratio of 34.71.
The Hain Celestial Group (NASDAQ:HAIN) last announced its earnings results on Thursday, May 8th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.86 by $0.02. The company had revenue of $557.40 million for the quarter, compared to the consensus estimate of $556.87 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts predict that The Hain Celestial Group will post $3.15 earnings per share for the current fiscal year.
The Hain Celestial Group, Inc, manufactures, markets, distributes and sells natural and organic products.
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