Maxim Group analyst Anthony Vendetti reiterated a Buy rating on Hain Celestial (HAIN) today and set a price target of $28. The company’s shares closed yesterday at $22.92.
Vendetti noted:
“Yesterday, pre-Market open, HAIN reported relatively inline revenues and non- GAAP EPS, as well as better gross margins. Guidance was maintained, although management expects FY19 revenue to be at the low end of the $2.32B-$2.35B range. We expect revenue declines in the short term due to the removal of unprofitable SKUs; however, we expect this strategy will lead to greater focus, resulting in long-term gains. We raise the price target to $28, from $25, as we are optimistic that HAIN can become a smaller, faster growing, and more profitable company.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 4.2% and a 48.7% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hain Celestial with a $23.79 average price target.
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The company has a one-year high of $31.53 and a one-year low of $14.45. Currently, Hain Celestial has an average volume of 1.79M.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HAIN in relation to earlier this year.
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Hain Celestial Group, Inc. engages in the production and distribution of organic and natural products. Its brands include Celestial Seasonings, Earth’s Best, Ella’s Kitchen, Terra, Garden of Eatin, Sensible Portions, and Health Valley. It operates through the following geographical segments: United States, United Kingdom, and Rest of World.
