In a report released yesterday, Rupesh Parikh from Oppenheimer maintained a Hold rating on Hain Celestial (NASDAQ: HAIN). The company’s shares closed yesterday at $27.45, close to its 52-week low of $25.80.
Parikh observed:
“Earlier today, HAIN reported weaker than feared Q3 results and lowered full year guidance. Management now expects an apples to apples basis of $1.11-$1.18 vs. $1.39-$1.50 previously. International remains a relative bright spot, but challenges in the US segment persist similar to many other food names. As we look forward, HAIN shares are still not in value territory and trade at roughly 14x FY18 EBITDA based on our updated forecasts or 12x pro forma inclusive of estimated HPP proceeds. Turnarounds are difficult in a normal environment, but even more challenging to execute in the current landscape. We await more signs of a turn in the US segment before becoming more constructive on shares.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 15.7% and a 59.9% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.
Currently, the analyst consensus on Hain Celestial is Moderate Buy and the average price target is $35, representing a 27.5% upside.
In a report released yesterday, Susquehanna also assigned a Hold rating to the stock with a $32 price target.
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The company has a one-year high of $45.61 and a one-year low of $25.80. Currently, Hain Celestial has an average volume of 1.3M.
Based on the recent corporate insider activity of 45 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, Hain Pure Protein, and Rest of World.
