Helen of Troy (NASDAQ:HELE) Shares Gap Down - Here's What Happened

Key Points

• Helen of Troy Limited's share price experienced a significant drop, opening at $22.81 after closing at $27.61, with last trades around $23.03.
• Analysts have lowered their price targets for Helen of Troy, with Canaccord Genuity setting a new objective of $26.00, down from $47.00, and UBS Group cutting their target from $29.00 to $27.00.
• The company's most recent earnings showed a miss in EPS estimates, reporting $0.41 compared to the consensus expectation of $0.91, while revenue decreased by 10.8% year-over-year.

Helen of Troy Limited (NASDAQ:HELE - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $27.61, but opened at $22.81. Helen of Troy shares last traded at $23.03, with a volume of 646,566 shares.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HELE shares. Canaccord Genuity Group reissued a "hold" rating and issued a $26.00 price objective (down previously from $47.00) on shares of Helen of Troy in a research note on Friday, July 11th. UBS Group cut their price target on shares of Helen of Troy from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Helen of Troy in a research report on Saturday, September 27th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $43.67.

Helen of Troy Stock Down 25.0%

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.70. The company has a market cap of $475.09 million, a price-to-earnings ratio of -1.43 and a beta of 0.84. The stock's fifty day moving average is $24.05 and its two-hundred day moving average is $28.61.

Helen of Troy (NASDAQ:HELE - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The company reported $0.41 EPS for the quarter, missing the consensus estimate 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 last year, the business posted $0.99 EPS. The company's quarterly revenue was down 10.8% on a year-over-year basis. Sell-side analysts predict that Helen of Troy Limited will post 6.46 earnings per share for the current fiscal year.

Insider Activity at Helen of Troy

In other Helen of Troy news, CEO Brian Grass acquired 10,000 shares of the business'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 acquisition, 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 document filed with the SEC, which is accessible through the SEC website. Also, CFO Tracy Scheuerman purchased 10,000 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was purchased at an average cost of $20.13 per share, with a total value of $201,300.00. Following the completion of the acquisition, the chief financial officer owned 33,041 shares in the company, valued at approximately $665,115.33. This trade represents a 43.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 20,435 shares of company stock valued at $425,948. 0.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Helen of Troy by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,533 shares of the company's stock valued at $724,000 after purchasing an additional 563 shares during the period. Signaturefd LLC raised its position in shares of Helen of Troy by 71.1% during the 2nd quarter. Signaturefd LLC now owns 1,429 shares of the company's stock valued at $41,000 after buying an additional 594 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Helen of Troy by 16.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,454 shares of the company's stock valued at $155,000 after buying an additional 759 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Helen of Troy by 26.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,013 shares of the company's stock valued at $114,000 after buying an additional 838 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in shares of Helen of Troy during the 1st quarter valued at $52,000.

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.

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