The Hain Celestial Group (NASDAQ:HAIN) Shares Gap Down After Earnings Miss

The Hain Celestial Group, Inc. (NASDAQ:HAIN) shares gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $8.90, but opened at $8.11. The Hain Celestial Group shares last traded at $7.85, with a volume of 558,296 shares changing hands.

The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The Hain Celestial Group had a negative net margin of 4.32% and a positive return on equity of 3.10%. The firm had revenue of $394.60 million during the quarter, compared to the consensus estimate of $394.24 million. During the same period in the prior year, the company earned ($0.04) EPS. The firm’s revenue was down 7.2% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HAIN shares. Barclays raised their price objective on The Hain Celestial Group from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Piper Sandler reissued a “neutral” rating and set a $8.00 price target on shares of The Hain Celestial Group in a research note on Thursday, September 19th. Stifel Nicolaus upped their price objective on shares of The Hain Celestial Group from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $8.00 target price on shares of The Hain Celestial Group in a report on Wednesday, August 28th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.57.

Insider Activity

In other news, insider Chad D. Marquardt bought 5,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $8.32 per share, with a total value of $44,096.00. Following the completion of the purchase, the insider now directly owns 15,300 shares in the company, valued at $127,296. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.83% of the company’s stock.

Institutional Trading of The Hain Celestial Group

Several large investors have recently modified their holdings of the business. Blair William & Co. IL raised its holdings in The Hain Celestial Group by 418.3% in the 1st quarter. Blair William & Co. IL now owns 366,948 shares of the company’s stock worth $2,884,000 after purchasing an additional 296,150 shares in the last quarter. Deerfield Management Company L.P. Series C raised its stake in The Hain Celestial Group by 391.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 124,589 shares of the company’s stock worth $861,000 after buying an additional 99,246 shares in the last quarter. Vanguard Group Inc. lifted its holdings in The Hain Celestial Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,942,729 shares of the company’s stock worth $86,010,000 after buying an additional 84,689 shares during the period. First Eagle Investment Management LLC boosted its position in The Hain Celestial Group by 12.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 730,854 shares of the company’s stock valued at $5,050,000 after acquiring an additional 79,000 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of The Hain Celestial Group during the 2nd quarter worth approximately $479,000. 97.01% of the stock is owned by institutional investors.

The Hain Celestial Group Price Performance

The stock has a market cap of $665.34 million, a P/E ratio of -8.82 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.01 and a current ratio of 1.98. The firm has a 50-day moving average price of $8.41 and a 200-day moving average price of $7.56.

The Hain Celestial Group Company Profile

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.