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

The Hain Celestial Group, Inc. (NASDAQ:HAIN)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $6.66, but opened at $7.10. The Hain Celestial Group shares last traded at $7.12, with a volume of 317,631 shares trading hands.

The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $438.36 million for the quarter, compared to analyst estimates of $463.37 million. The Hain Celestial Group had a negative net margin of 8.88% and a positive return on equity of 2.48%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS.

Analysts Set New Price Targets

Several analysts have issued reports on HAIN shares. JPMorgan Chase & Co. lowered their price objective on shares of The Hain Celestial Group from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Stifel Nicolaus lowered their price objective on shares of The Hain Celestial Group from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Friday, April 26th. DA Davidson assumed coverage on shares of The Hain Celestial Group in a research report on Friday, March 1st. They set a “neutral” rating and a $10.00 price target for the company. Maxim Group decreased their price target on shares of The Hain Celestial Group from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Barclays reduced their price objective on The Hain Celestial Group from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.90.

Insider Activity at The Hain Celestial Group

In related news, CEO Wendy P. Davidson acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $9.46 per share, for a total transaction of $47,300.00. Following the completion of the purchase, the chief executive officer now directly owns 58,309 shares in the company, valued at $551,603.14. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Raymond James & Associates increased its stake in The Hain Celestial Group by 4.5% in the 3rd quarter. Raymond James & Associates now owns 217,891 shares of the company’s stock worth $2,260,000 after purchasing an additional 9,362 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in The Hain Celestial Group by 9.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,773 shares of the company’s stock worth $195,000 after acquiring an additional 1,587 shares during the period. Mackenzie Financial Corp acquired a new stake in The Hain Celestial Group during the 3rd quarter worth about $352,000. Inspire Investing LLC boosted its position in The Hain Celestial Group by 17.3% during the 3rd quarter. Inspire Investing LLC now owns 29,366 shares of the company’s stock worth $305,000 after acquiring an additional 4,327 shares during the period. Finally, Olympiad Research LP acquired a new stake in The Hain Celestial Group during the 3rd quarter worth about $173,000. 97.01% of the stock is owned by institutional investors and hedge funds.

The Hain Celestial Group Price Performance

The stock has a market capitalization of $631.52 million, a price-to-earnings ratio of -3.97 and a beta of 0.74. The company has a current ratio of 2.24, a quick ratio of 1.14 and a debt-to-equity ratio of 0.81. The stock has a 50-day simple moving average of $7.39 and a 200 day simple moving average of $9.53.

The Hain Celestial Group Company Profile

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.