The Hain Celestial Group (NASDAQ:HAIN) Downgraded by Stephens to Equal Weight

Key Points

• The Hain Celestial Group has been downgraded from an "overweight" to an "equal weight" rating by Stephens, with a price target of $2.00, suggesting a potential upside of 34.23% from its current price.
• The company reported earnings of ($0.02) per share for the latest quarter, missing analyst estimates by $0.06, and its revenue decreased by 13.4% year-over-year.
• Currently, the average rating for The Hain Celestial Group among analysts is "Hold," with an average target price of $3.33.

Stephens lowered shares of The Hain Celestial Group (NASDAQ:HAIN - Free Report) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have $2.00 target price on the stock, down from their previous target price of $3.00.

A number of other equities analysts have also issued reports on the company. Piper Sandler decreased their price target on The Hain Celestial Group from $2.00 to $1.80 and set a "neutral" rating for the company in a research note on Tuesday, June 3rd. Mizuho decreased their price target on The Hain Celestial Group from $2.50 to $1.50 and set a "neutral" rating for the company in a research note on Tuesday, September 16th. Finally, Zacks Research raised The Hain Celestial Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $3.28.

The Hain Celestial Group Price Performance

HAIN traded up $0.04 on Wednesday, reaching $1.53. The company had a trading volume of 4,822,778 shares, compared to its average volume of 1,961,176. The Hain Celestial Group has a one year low of $1.30 and a one year high of $9.43. The company has a market capitalization of $138.14 million, a P/E ratio of -0.26 and a beta of 0.79. The company has a fifty day moving average of $1.73 and a 200-day moving average of $2.31. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 1.47.

The Hain Celestial Group (NASDAQ:HAIN - Get Free Report) last posted its quarterly earnings data on Monday, September 15th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.06). The company had revenue of $363.35 million during the quarter, compared to the consensus estimate of $371.58 million. The Hain Celestial Group had a negative net margin of 34.03% and a positive return on equity of 1.10%. The company's revenue was down 13.4% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. As a group, equities research analysts anticipate that The Hain Celestial Group will post 0.4 earnings per share for the current year.

Hedge Funds Weigh In On The Hain Celestial Group

Several institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its holdings in The Hain Celestial Group by 104.8% during the second quarter. Thrivent Financial for Lutherans now owns 21,500 shares of the company's stock valued at $32,000 after buying an additional 11,000 shares in the last quarter. Cim Investment Management Inc. increased its stake in The Hain Celestial Group by 100.7% during the second quarter. Cim Investment Management Inc. now owns 28,793 shares of the company's stock valued at $44,000 after acquiring an additional 14,450 shares during the period. Raffles Associates LP bought a new position in The Hain Celestial Group during the second quarter valued at about $304,000. Tidal Investments LLC bought a new position in The Hain Celestial Group during the second quarter valued at about $179,000. Finally, Oxford Asset Management LLP acquired a new stake in The Hain Celestial Group during the second quarter valued at approximately $104,000. 97.01% of the stock is currently owned by institutional investors.

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.