The Hain Celestial Group (NASDAQ:HAIN) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research has downgraded The Hain Celestial Group from a "hold" rating to a "strong sell" rating, indicating bearish sentiment among analysts.
• Multiple firms have adjusted their price targets for Hain Celestial, with Mizuho lowering it from $2.50 to $1.50 and Stephens reducing from $3.00 to $2.00.
• The company's recent earnings report showed a loss of $0.02 per share, missing estimates, and a revenue decline of 13.4% compared to the same quarter last year.

Zacks Research cut shares of The Hain Celestial Group (NASDAQ:HAIN - Free Report) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Barclays cut their target price on The Hain Celestial Group from $2.00 to $1.50 and set an "equal weight" rating on the stock in a report on Wednesday. Stephens lowered The Hain Celestial Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $3.00 to $2.00 in a report on Wednesday. Piper Sandler cut their price objective on The Hain Celestial Group from $2.00 to $1.80 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Finally, Mizuho cut their target price 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. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $3.28.

The Hain Celestial Group Price Performance

HAIN stock traded up $0.04 during midday trading 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 company has a market capitalization of $138.14 million, a price-to-earnings ratio of -0.26 and a beta of 0.79. The stock has a 50 day moving average price of $1.73 and a 200-day moving average price of $2.31. The Hain Celestial Group has a 1-year low of $1.30 and a 1-year high of $9.43. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.91 and a quick ratio of 0.99.

The Hain Celestial Group (NASDAQ:HAIN - Get Free Report) last issued its earnings results on Monday, September 15th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). The Hain Celestial Group had a positive return on equity of 1.10% and a negative net margin of 34.03%.The business had revenue of $363.35 million for the quarter, compared to analyst estimates of $371.58 million. During the same period in the previous year, the firm posted $0.13 EPS. The firm's revenue was down 13.4% compared to the same quarter last year. Equities research analysts expect 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

A number of large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its holdings in shares of The Hain Celestial Group by 89.0% in the first quarter. Assenagon Asset Management S.A. now owns 567,234 shares of the company's stock valued at $2,354,000 after purchasing an additional 267,161 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in The Hain Celestial Group by 32.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,595,704 shares of the company's stock worth $6,622,000 after buying an additional 391,034 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of The Hain Celestial Group by 45.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,592 shares of the company's stock worth $98,000 after purchasing an additional 7,389 shares in the last quarter. Wellington Management Group LLP acquired a new position in The Hain Celestial Group in the 4th quarter valued at about $14,322,000. Finally, Jump Financial LLC acquired a new position in The Hain Celestial Group in the 1st quarter valued at about $814,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

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.