Oppenheimer analyst Rupesh Parikh maintained a Hold rating on Hain Celestial (NASDAQ: HAIN) today. The company’s shares opened today at $27.66, close to its 52-week low of $25.41.
Parikh said:
“This morning HAIN reported in-line Q4 results and provided initial EBITDA guidance in line with Street figures. However, from our perspective, management guidance seems aggressive in the context of an increasingly competitive US backdrop as retailers continue to push private-label, industry-specific challenges that HAIN is not immune to, and limited visibility on the company’s ability to effect a top-line turn. We would wait for evidence of a sustainable top-line and bottom-line turn before becoming involved with shares. Evidence of a turn is likely in 2H19 at the earliest, so we believe it’s better to remain on the sidelines. At current levels, HAIN shares trade at a ~2% FCF yield, so it’s still not a value name. CHD and EL remain our preferred plays.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.2% and a 63.8% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.
Hain Celestial has an analyst consensus of Moderate Buy, with a price target consensus of $32.67, representing a 18.1% upside. In a report issued on August 22, Loop Capital Markets also maintained a Hold rating on the stock with a $30 price target.
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The company has a one-year high of $44.37 and a one-year low of $25.41. Currently, Hain Celestial has an average volume of 1.22M.
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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.
