Wall Street Zen Downgrades The Hain Celestial Group (NASDAQ:HAIN) to Sell

Key Points

• The Hain Celestial Group has been downgraded from a "hold" to a "sell" rating by analysts at Wall Street Zen, reflecting growing concerns about the company's performance.
• Analysts, including Zacks Research and Stephens, have also reduced their price targets significantly, with some estimating a target as low as $1.50, down from previous targets of up to $3.00.
• The company's recent earnings report showed a loss of ($0.02) earnings per share, missing estimates and indicating a 13.4% year-over-year revenue decline.

The Hain Celestial Group (NASDAQ:HAIN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

A number of other equities research analysts have also recently commented on the stock. Barclays cut their price target on shares of The Hain Celestial Group from $2.00 to $1.50 and set an "equal weight" rating on the stock in a report on Wednesday, September 17th. Piper Sandler dropped their target price on shares of The Hain Celestial Group from $2.00 to $1.80 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Zacks Research downgraded shares of The Hain Celestial Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, September 17th. Mizuho cut their target price on shares of The Hain Celestial Group from $2.50 to $1.50 and set a "neutral" rating for the company in a research report on Tuesday, September 16th. Finally, Stephens downgraded shares of The Hain Celestial Group from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $3.00 to $2.00 in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $3.28.

The Hain Celestial Group Stock Up 4.5%

Shares of NASDAQ HAIN traded up $0.08 on Friday, reaching $1.73. 323,238 shares of the company's stock traded hands, compared to its average volume of 2,124,107. The Hain Celestial Group has a 12 month low of $1.30 and a 12 month high of $9.43. The business's 50 day simple moving average is $1.73 and its two-hundred day simple moving average is $2.28. The company has a market cap of $155.75 million, a price-to-earnings ratio of -0.30 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.91 and a debt-to-equity ratio of 1.47.

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

Insider Transactions at The Hain Celestial Group

In related news, Director Neil Campbell purchased 62,640 shares of the company's stock in a transaction that occurred on Friday, September 19th. The stock was bought at an average price of $1.52 per share, for a total transaction of $95,212.80. Following the completion of the transaction, the director owned 125,569 shares in the company, valued at approximately $190,864.88. The trade was a 99.54% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Alison Lewis purchased 44,895 shares of the company's stock in a transaction that occurred on Friday, September 19th. The stock was bought at an average price of $1.50 per share, with a total value of $67,342.50. Following the transaction, the chief executive officer owned 74,895 shares of the company's stock, valued at $112,342.50. This represents a 149.65% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 137,535 shares of company stock valued at $207,255. 1.71% of the stock is owned by insiders.

Institutional Trading of The Hain Celestial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in The Hain Celestial Group by 89.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 567,234 shares of the company's stock worth $2,354,000 after acquiring an additional 267,161 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in The Hain Celestial Group by 32.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,595,704 shares of the company's stock worth $6,622,000 after acquiring an additional 391,034 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake 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 valued at $98,000 after purchasing an additional 7,389 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of The Hain Celestial Group during the fourth quarter valued at approximately $14,322,000. Finally, Jump Financial LLC bought a new position in shares of The Hain Celestial Group during the first quarter valued at approximately $814,000. 97.01% of the stock is owned by hedge funds and other 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.