Stock Update (NYSE:HLF): Herbalife Ltd. Responds to Court’s Final Approval of Bostick Class Action Settlement
Herbalife Ltd. (NYSE:HLF) issued the following statement:
“Herbalife welcomes the decision by the U.S. District Court for the Central District of California to grant final approval of the class action settlement in the matter of Dana Bostick v. Herbalife International of America Inc et al.
As we have consistently stated, we believe that the settlement is fair, reasonable and adequate to class members, and we note the court found that the low number of claimants was not surprising in light of the substantial survey results indicating that most people join Herbalife to become discount consumers of our products.”(Original Source)
Shares of Herbalife closed today at $46.40, down $0.07 or 0.15%. 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 $43.89 and its 200-day moving average is $38.74.
On the ratings front, Herbalife has been the subject of a number of recent research reports. In a report issued on May 6, Canaccord Genuity analyst Scott Van Winkle reiterated a Buy rating on HLF, with a price target of $53, which represents a potential upside of 14.2% from where the stock is currently trading. 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 11.5% and 2.0% respectively. Winkle has a success rate of 53.7% and is ranked #278 out of 3602 analysts, while Scee has a success rate of 48.3% and is ranked #1911.
Herbalife Ltd is a nutrition company. The Companyalong with its subsidiariessells weight management, targeted nutrition, energy, sports & fitness, and outer nutrition products.