The Hain Celestial Group (NASDAQ:HAIN) Cut to "Market Perform" at Sanford C. Bernstein

Sanford C. Bernstein cut shares of The Hain Celestial Group (NASDAQ:HAIN - Free Report) from an outperform rating to a market perform rating in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $1.50 target price on the stock.

Several other analysts have also weighed in on HAIN. Maxim Group dropped their price objective on shares of The Hain Celestial Group from $15.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Barclays dropped their price objective on shares of The Hain Celestial Group from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Evercore ISI dropped their price objective on shares of The Hain Celestial Group from $6.00 to $5.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of The Hain Celestial Group from $6.00 to $5.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Finally, Piper Sandler dropped their price objective on shares of The Hain Celestial Group from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $4.39.

The Hain Celestial Group Price Performance

NASDAQ:HAIN traded up $0.01 during trading hours on Thursday, reaching $1.78. The company had a trading volume of 2,422,938 shares, compared to its average volume of 1,688,000. The stock has a 50-day moving average of $3.39 and a two-hundred day moving average of $5.23. The Hain Celestial Group has a one year low of $1.30 and a one year high of $9.43. The firm has a market capitalization of $160.65 million, a PE ratio of -0.92 and a beta of 1.05. The company has a quick ratio of 1.00, a current ratio of 1.90 and a debt-to-equity ratio of 0.90.

The Hain Celestial Group (NASDAQ:HAIN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.05). The Hain Celestial Group had a negative net margin of 10.51% and a positive return on equity of 2.88%. The company had revenue of $390.35 million during the quarter, compared to the consensus estimate of $414.45 million. During the same quarter last year, the company earned $0.13 earnings per share. The business's revenue was down 10.9% on a year-over-year basis. Analysts forecast that The Hain Celestial Group will post 0.4 earnings per share for the current year.

Insider Buying and Selling at The Hain Celestial Group

In other The Hain Celestial Group news, Director Dawn M. Zier acquired 200,000 shares of The Hain Celestial Group stock in a transaction on Friday, May 9th. The shares were purchased at an average cost of $1.60 per share, with a total value of $320,000.00. Following the completion of the purchase, the director now owns 288,229 shares in the company, valued at $461,166.40. The trade was a 226.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.83% of the company's stock.

Hedge Funds Weigh In On The Hain Celestial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in HAIN. Signaturefd LLC lifted its position in The Hain Celestial Group by 174.5% during the 1st quarter. Signaturefd LLC now owns 6,858 shares of the company's stock worth $28,000 after buying an additional 4,360 shares in the last quarter. Van ECK Associates Corp lifted its position in The Hain Celestial Group by 49.0% during the 4th quarter. Van ECK Associates Corp now owns 10,805 shares of the company's stock worth $66,000 after buying an additional 3,554 shares in the last quarter. Virtu Financial LLC bought a new position in The Hain Celestial Group in the fourth quarter valued at approximately $73,000. Wedmont Private Capital bought a new position in The Hain Celestial Group in the first quarter valued at approximately $52,000. Finally, Byrne Asset Management LLC grew its stake in The Hain Celestial Group by 240.0% in the first quarter. Byrne Asset Management LLC now owns 13,599 shares of the company's stock valued at $56,000 after purchasing an additional 9,599 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

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.