The Hain Celestial Group Sees Unusually High Options Volume (NASDAQ:HAIN)
The Hain Celestial Group, Inc. (NASDAQ:HAIN) saw some unusual options trading activity on Thursday. Traders bought 16,985 call options on the company. This is an increase of approximately 343% compared to the typical daily volume of 3,830 call options.
Shares of The Hain Celestial Group (HAIN) opened at 43.76 on Friday. The company’s 50 day moving average is $36.57 and its 200-day moving average is $37.12. The stock’s market capitalization is $4.54 billion. The Hain Celestial Group has a 1-year low of $31.01 and a 1-year high of $56.99.
The Hain Celestial Group (NASDAQ:HAIN) last released its quarterly earnings results on Thursday, June 22nd. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.52 by $0.19. The company had revenue of $706.56 million for the quarter, compared to analyst estimates of $721 million. The Hain Celestial Group had a negative return on equity of 1.09% and a negative net margin of 0.75%. Equities analysts anticipate that The Hain Celestial Group will post $1.20 earnings per share for the current fiscal year.
The Hain Celestial Group declared that its board has approved a stock repurchase program on Thursday, June 22nd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of research analysts have commented on the stock. Wells Fargo & Company set a $42.00 target price on shares of The Hain Celestial Group and gave the company a “hold” rating in a research report on Saturday, July 1st. Susquehanna Bancshares Inc set a $45.00 price target on shares of The Hain Celestial Group and gave the stock a “buy” rating in a research note on Saturday, May 13th. BidaskClub upgraded shares of The Hain Celestial Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. Vetr lowered shares of The Hain Celestial Group from a “buy” rating to a “hold” rating and set a $39.79 price target on the stock. in a research note on Monday, July 3rd. Finally, Zacks Investment Research upgraded shares of The Hain Celestial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The Hain Celestial Group presently has an average rating of “Hold” and a consensus price target of $41.21.
A number of institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in The Hain Celestial Group during the second quarter valued at about $660,000. Dubuque Bank & Trust Co. increased its stake in The Hain Celestial Group by 10.7% in the second quarter. Dubuque Bank & Trust Co. now owns 7,188 shares of the company’s stock valued at $279,000 after buying an additional 693 shares in the last quarter. State Treasurer State of Michigan increased its stake in The Hain Celestial Group by 1.4% in the second quarter. State Treasurer State of Michigan now owns 42,600 shares of the company’s stock valued at $1,654,000 after buying an additional 600 shares in the last quarter. Maple Capital Management Inc. increased its stake in The Hain Celestial Group by 34.2% in the second quarter. Maple Capital Management Inc. now owns 7,655 shares of the company’s stock valued at $297,000 after buying an additional 1,950 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in The Hain Celestial Group during the second quarter valued at about $3,872,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.
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About The 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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