The Hain Celestial Group (NASDAQ:HAIN) Stock Gets Downgrade from Zacks Research

The Hain Celestial Group (NASDAQ:HAIN) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks reports.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings raised shares of The Hain Celestial Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, September 14th. Jefferies Financial Group cut their target price on The Hain Celestial Group from $1.03 to $0.81 and set a “hold” rating for the company in a research note on Tuesday, July 7th. Wall Street Zen cut The Hain Celestial Group from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Finally, Barclays reduced their target price on The Hain Celestial Group from $0.50 to $0.30 and set an “underweight” rating on the stock in a report on Friday, October 16th. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $0.90.

The Hain Celestial Group Stock Down 22.0%

HAIN stock opened at $0.16 on Wednesday. The company has a market cap of $14.27 million, a PE ratio of -0.05 and a beta of 0.95. The business has a 50-day simple moving average of $0.57 and a 200 day simple moving average of $0.64. The Hain Celestial Group has a 52 week low of $0.14 and a 52 week high of $1.52.

The Hain Celestial Group (NASDAQ:HAIN) last announced its quarterly earnings data on Monday, September 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The Hain Celestial Group had a negative return on equity of 5.45% and a negative net margin of 22.53%. The firm had revenue of $263.07 million for the quarter, compared to analyst estimates of $261.24 million. On average, analysts anticipate that The Hain Celestial Group will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HAIN. SummerHaven Investment Management LLC acquired a new position in The Hain Celestial Group during the 3rd quarter worth approximately $54,000. Nantahala Capital Management LLC bought a new position in The Hain Celestial Group in the 2nd quarter valued at approximately $4,777,828. Empowered Funds LLC acquired a new stake in The Hain Celestial Group in the second quarter valued at approximately $42,000. Public Employees Retirement System of Ohio acquired a new stake in The Hain Celestial Group in the second quarter valued at approximately $130,000. Finally, Bank of America Corp DE acquired a new stake in The Hain Celestial Group in the second quarter valued at approximately $50,000. Institutional investors own 97.01% of the company’s stock.

The Hain Celestial Group Company Profile

The Hain Celestial Group, Inc is a consumer products company focused on better-for-you, natural and organic foods, beverages and personal care products. Its portfolio includes pantry staples, snacks, plant-based foods, teas, infant and children’s foods, and personal care products.

The company’s brands have included Celestial Seasonings, Earth’s Best, Terra, Garden of Eatin’, Imagine, Sensible Portions, The Greek Gods, Alba Botanica, Avalon Organics and Jason. Products are sold through grocery stores, mass retailers, club stores, natural-food retailers, e-commerce channels and other outlets.

Founded in 1993 by Irwin Simon, Hain Celestial expanded through brand development and acquisitions, including its combination with Celestial Seasonings in 2000.