Global nutrition company, Herbalife Ltd. (NYSE:HLF), announced the appointment of Michael Montelongo to the company’s board of directors, effective April 23, 2015. Montelongo has an exemplary career spanning both the public and private sectors, and his leadership skills and experience in strategy and policymaking across multinational enterprises will be a valuable addition to the board.
Montelongo joins as an independent director. The Herbalife board now has 13 members, 10 of whom are independent.
“After carefully reviewing Herbalife and its business, and engaging with its leadership and people, I am excited about the opportunities that lie ahead for a company that reflects my values and is focused on improving the lives of people and families around the world,” said Montelongo. “Having spent a lifetime of service in business, government, and civil society – and navigating this increasingly interdependent global terrain – I believe Herbalife’s purpose-driven and selfless focus is refreshing, longed-for, and essential in today’s crowded marketplace. I am eager to get started and contribute to Herbalife’s future success.”
“Michael’s global experience and strategic insight, combined with his financial expertise, will bring an immediate impact to our board and to our company,” saidMichael O. Johnson, chairman and chief executive officer of Herbalife. “We are fortunate to have his guidance as we continue to manage the business for profitable long-term growth.” (Original Source)
Shares of Herbalife closed yesterday at $42.1 . 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 $41.26 and its 200-day moving average is $38.97.
On the ratings front, Herbalife has been the subject of a number of recent research reports. In a report issued on April 23, Canaccord Genuity analyst Scott Van Winkle reiterated a Buy rating on HLF, with a price target of $50, which implies an upside of 18.8% from current levels. Separately, on March 13, BTIG’s April Scee maintained a Buy rating on the stock and has a price target of $55.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Scott Van Winkle and April Scee have a total average return of 13.6% and 5.8% respectively. Winkle has a success rate of 56.1% and is ranked #230 out of 3581 analysts, while Scee has a success rate of 75.9% and is ranked #1308.
The street is mostly Bullish on HLF stock. Out of 4 analysts who cover the stock, 4 suggest a Buy rating . The 12-month average price target assigned to the stock is $57.50, which represents a potential upside of 36.6% from where the stock is currently trading.
Herbalife Ltd is a nutrition company. The Companyalong with its subsidiariessells weight management, targeted nutrition, energy, sports & fitness, and outer nutrition products.