In a report released today, Akshay Jagdale from Jefferies reiterated a Buy rating on Hain Celestial (HAIN), with a price target of $35. The company’s shares closed yesterday at $17.77, close to its 52-week low of $14.45.
“We liked what we heard yesterday from the new CEO, Mark Schiller. The new strategy if executed successfully will make HAIN a much more profitable company but one that is relatively smaller. Following a transition period, sales are expected to grow 3-6% (vs. -6% in FY19) with EBITDA margins in the 13-16% range (vs. 8% in FY19). We view the risk/reward as attractive especially for LT investors.”
According to TipRanks.com, Jagdale is a 3-star analyst with an average return of 1.7% and a 50.9% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and Conagra Brands Inc.
Currently, the analyst consensus on Hain Celestial is a Hold with an average price target of $19.70, a 10.9% upside from current levels. In a report issued on February 14, Citigroup also maintained a Buy rating on the stock with a $21 price target.
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Based on Hain Celestial’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $66.5 million. In comparison, last year the company had a net profit of $47.1 million.
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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.