Hain Celestial Group (HAIN) Shares Down 1.4% After Earnings Miss

Hain Celestial Group Inc (NASDAQ:HAIN) shares were down 1.4% during trading on Friday following a dissappointing earnings announcement. The company traded as low as $22.03 and last traded at $22.20. Approximately 126,393 shares traded hands during trading, a decline of 89% from the average daily volume of 1,131,089 shares. The stock had previously closed at $22.51.

The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.04). Hain Celestial Group had a return on equity of 7.37% and a net margin of 0.35%. The firm had revenue of $560.88 million during the quarter, compared to the consensus estimate of $588.12 million. During the same period in the previous year, the firm earned $0.20 EPS. The business’s revenue was down 4.8% compared to the same quarter last year.

A number of analysts have issued reports on HAIN shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Hain Celestial Group in a research note on Monday, September 24th. Piper Jaffray Companies started coverage on Hain Celestial Group in a research note on Friday, October 12th. They issued a “hold” rating and a $26.00 price objective on the stock. Zacks Investment Research downgraded Hain Celestial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Maxim Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Hain Celestial Group in a research note on Tuesday, August 28th. Finally, Buckingham Research reduced their price objective on Hain Celestial Group from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 29th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.80.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAIN. Global X Management Co LLC grew its position in Hain Celestial Group by 113.7% in the 2nd quarter. Global X Management Co LLC now owns 4,937 shares of the company’s stock valued at $147,000 after acquiring an additional 2,627 shares during the last quarter. Truvestments Capital LLC bought a new position in Hain Celestial Group in the 3rd quarter valued at $151,000. Flagship Harbor Advisors LLC bought a new position in Hain Celestial Group in the 2nd quarter valued at $194,000. Mercer Capital Advisers Inc. grew its position in Hain Celestial Group by 119.7% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 7,250 shares of the company’s stock valued at $216,000 after acquiring an additional 3,950 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new position in Hain Celestial Group in the 2nd quarter valued at $218,000. 92.96% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market cap of $2.84 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 2.83 and a beta of 1.09. The company has a quick ratio of 1.56, a current ratio of 2.49 and a debt-to-equity ratio of 0.40.

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About Hain Celestial Group (NASDAQ:HAIN)

The Hain Celestial Group, Inc manufactures, markets, distributes, and sells organic and natural products. The company operates in seven segments: the United States, United Kingdom, Tilda, Ella's Kitchen UK, Canada, Europe, and Cultivate. It offers infant formula; infant, toddler, and kids foods; diapers and wipes; rice and grain-based products; plant-based beverages and frozen desserts, such as soy, rice, oat, almond, and coconut; 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; yogurts; chilies; chocolates; and nut butters.

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