The Hain Celestial Group (NASDAQ:HAIN) Shares Gap Up Following Strong Earnings

Shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $6.83, but opened at $7.31. The Hain Celestial Group shares last traded at $9.16, with a volume of 2,561,008 shares trading hands.

The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $419.00 million for the quarter, compared to analysts’ expectations of $417.99 million. The Hain Celestial Group had a negative net margin of 5.14% and a positive return on equity of 2.91%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 EPS.

Analyst Upgrades and Downgrades

HAIN has been the topic of a number of analyst reports. Maxim Group dropped their price target on shares of The Hain Celestial Group from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. DA Davidson restated a “neutral” rating and set a $8.00 target price on shares of The Hain Celestial Group in a research note on Wednesday. Barclays lowered their target price on shares of The Hain Celestial Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Mizuho lowered their target price on shares of The Hain Celestial Group from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Finally, Stifel Nicolaus upped their target price on shares of The Hain Celestial Group from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.63.

Hedge Funds Weigh In On The Hain Celestial Group

Several institutional investors have recently made changes to their positions in HAIN. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in The Hain Celestial Group by 31.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,623 shares of the company’s stock worth $270,000 after acquiring an additional 5,850 shares during the period. Signaturefd LLC raised its stake in The Hain Celestial Group by 265.2% during the 4th quarter. Signaturefd LLC now owns 4,127 shares of the company’s stock worth $45,000 after acquiring an additional 2,997 shares during the period. Handelsbanken Fonder AB raised its stake in The Hain Celestial Group by 101.4% during the 4th quarter. Handelsbanken Fonder AB now owns 23,639 shares of the company’s stock worth $259,000 after acquiring an additional 11,900 shares during the period. First Trust Direct Indexing L.P. raised its stake in The Hain Celestial Group by 16.5% during the 4th quarter. First Trust Direct Indexing L.P. now owns 14,519 shares of the company’s stock worth $159,000 after acquiring an additional 2,061 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in The Hain Celestial Group by 14.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,863,497 shares of the company’s stock worth $20,405,000 after acquiring an additional 229,144 shares during the period. Institutional investors own 97.01% of the company’s stock.

The Hain Celestial Group Stock Performance

The company has a market cap of $742.11 million, a P/E ratio of -8.10 and a beta of 0.77. The business’s 50 day simple moving average is $7.12 and its 200 day simple moving average is $7.50. The company has a current ratio of 2.10, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82.

About The Hain Celestial Group

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.