Herbalife Ltd. (NYSE:HLF) announced that it plans to create 300 new jobs by the end of 2018 at its Innovation and Manufacturing facility in Winston-Salem, North Carolina. The jobs will be a mix of manufacturing and IT roles and are part of an expansion plan that will also include additional investment of $3.5 million into infrastructure and development by the end of 2016.
North Carolina Governor, Pat McCrory, made the announcement at an event held at the Herbalife facility earlier today.
These new jobs will be in addition to the 500 jobs that Herbalife will have created by the end of 2015. Herbalife currently employs 404 people in Forsyth County who produce a wide range of Herbalife’s nutrition and weight-management products.
“Our newest and largest manufacturing facility in Winston-Salem is integral to our ‘seed to feed’ strategy and we are excited to be embarking on this next phase of investment in support of our global growth,” said David Pezzullo, Herbalife’s executive vice president, worldwide operations. “We are grateful to Governor McCrory and to all those who supported this decision in Forsyth County and Winston-Salem, enabling us to expand our operations and make this additional investment in the region.” (Original Source)
Shares of Herbalife Ltd opened today at $55.54 and are currently trading up at $55.56. HLF has a 1-year high of $69.69 and a 1-year low of $27.60. The stock’s 50-day moving average is $52.31 and its 200-day moving average is $41.19.
On the ratings front, Herbalife has been the subject of a number of recent research reports. In a report issued on June 24, Pivotal Research analyst Timothy Ramey reiterated a Buy rating on HLF, with a price target of $90, which implies an upside of 62% from current levels. Separately, on May 6, Canaccord Genuity’s Scott Van Winkle reiterated a Buy rating on the stock and has a price target of $53.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Timothy Ramey and Scott Van Winkle have a total average return of 7.1% and 11.2% respectively. Ramey has a success rate of 64.0% and is ranked #943 out of 3688 analysts, while Winkle has a success rate of 56.0% and is ranked #281.
Herbalife Ltd is a nutrition company. The Companyalong with its subsidiariessells weight management, targeted nutrition, energy, sports & fitness, and outer nutrition products.