Helen of Troy (NASDAQ:HELE) Trading Down 6.1% - Here's What Happened

Key Points

• Helen of Troy's share price declined by 6.1%, trading at $22.63, significantly below its previous close of $24.11 and experiencing a trading volume of just 66,258 shares, compared to an average of 700,962 shares.
• Analysts have lowered their target prices for Helen of Troy, with Canaccord Genuity reducing its price target from $47.00 to $26.00 and UBS Group cutting theirs from $32.00 to $29.00.
• Insider trading reported increased purchases by CEO Brian Grass and CFO Tracy Scheuerman, indicating confidence in the company's future despite recent declines.

Helen of Troy Limited (NASDAQ:HELE - Get Free Report)'s share price dropped 6.1% during trading on Thursday . The company traded as low as $22.62 and last traded at $22.63. Approximately 66,258 shares traded hands during trading, a decline of 91% from the average daily volume of 700,962 shares. The stock had previously closed at $24.11.

Wall Street Analyst Weigh In

Several research firms have commented on HELE. Canaccord Genuity Group reiterated a "hold" rating and issued a $26.00 price objective (down from $47.00) on shares of Helen of Troy in a report on Friday, July 11th. UBS Group lowered their price target on shares of Helen of Troy from $32.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Finally, Wall Street Zen cut Helen of Troy from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd.

Helen of Troy Stock Performance

The company has a market cap of $526.01 million, a PE ratio of -1.59 and a beta of 0.86. The business's 50-day moving average is $25.55 and its 200 day moving average is $36.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.70.

Helen of Troy (NASDAQ:HELE - Get Free Report) last released its earnings results on Thursday, July 10th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.50). Helen of Troy had a negative net margin of 17.89% and a positive return on equity of 8.96%. The firm had revenue of $371.66 million during the quarter, compared to analysts' expectations of $400.69 million. During the same quarter in the previous year, the business earned $0.99 EPS. The company's revenue for the quarter was down 10.8% compared to the same quarter last year. On average, equities research analysts predict that Helen of Troy Limited will post 6.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Grass purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was bought at an average cost of $21.47 per share, with a total value of $214,700.00. Following the completion of the purchase, the chief executive officer owned 135,932 shares in the company, valued at approximately $2,918,460.04. This represents a 7.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Tracy Scheuerman purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were acquired at an average cost of $20.13 per share, with a total value of $201,300.00. Following the completion of the purchase, the chief financial officer directly owned 33,041 shares in the company, valued at $665,115.33. The trade was a 43.40% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 20,435 shares of company stock valued at $425,948. 0.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its stake in Helen of Troy by 20.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 149,625 shares of the company's stock valued at $8,003,000 after purchasing an additional 25,713 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Helen of Troy by 3,325.3% in the first quarter. Federated Hermes Inc. now owns 185,616 shares of the company's stock valued at $9,929,000 after purchasing an additional 180,197 shares in the last quarter. First Trust Advisors LP grew its position in Helen of Troy by 111.3% in the fourth quarter. First Trust Advisors LP now owns 69,856 shares of the company's stock worth $4,179,000 after acquiring an additional 36,795 shares during the period. GAMMA Investing LLC boosted its position in shares of Helen of Troy by 7,625.2% during the first quarter. GAMMA Investing LLC now owns 37,390 shares of the company's stock worth $20,000,000 after buying an additional 36,906 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Helen of Troy by 80.5% during the fourth quarter. Bank of America Corp DE now owns 364,180 shares of the company's stock worth $21,789,000 after buying an additional 162,460 shares during the period.

About Helen of Troy

Helen of Troy Limited provides various consumer products in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates in two segments: Home & Outdoor and Beauty & Wellness. The Home & Outdoor segment offers food storage containers, kitchen utensils for cooking and preparing salads, fruits, vegetables and meats, graters, slicers and choppers, baking essentials, kitchen organization, bath, cleaning, infant and toddler products, and coffee preparation tools and electronics; and insulated beverageware, including bottles, travel tumblers, drinkware, mugs, food and lunch containers, insulated totes, soft coolers, outdoor kitchenware, and accessories.