The Hain Celestial Group (NASDAQ:HAIN) Trading Down 5.5% – Here’s What Happened

The Hain Celestial Group, Inc. (NASDAQ:HAIN) shares traded down 5.5% during mid-day trading on Thursday . The company traded as low as $6.74 and last traded at $6.74. 362,915 shares were traded during mid-day trading, a decline of 70% from the average session volume of 1,191,680 shares. The stock had previously closed at $7.13.

Analyst Ratings Changes

HAIN has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and set a $8.00 price objective on shares of The Hain Celestial Group in a report on Thursday, September 19th. Stifel Nicolaus upped their price target on The Hain Celestial Group from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. DA Davidson dropped their price objective on The Hain Celestial Group from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. Finally, Barclays lowered their target price on The Hain Celestial Group from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.43.

The Hain Celestial Group Stock Down 1.8 %

The firm has a market cap of $579.05 million, a price-to-earnings ratio of -6.83 and a beta of 0.71. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 0.76. The firm has a fifty day moving average price of $8.09 and a 200-day moving average price of $7.72.

The Hain Celestial Group (NASDAQ:HAIN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The Hain Celestial Group had a positive return on equity of 3.13% and a negative net margin of 4.94%. The company had revenue of $394.60 million for the quarter, compared to analysts’ expectations of $394.24 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that The Hain Celestial Group, Inc. will post 0.44 EPS for the current year.

Institutional Investors Weigh In On The Hain Celestial Group

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of The Hain Celestial Group by 171.3% during the 2nd quarter. Millennium Management LLC now owns 2,634,718 shares of the company’s stock worth $18,206,000 after purchasing an additional 1,663,542 shares during the period. Federated Hermes Inc. grew its stake in The Hain Celestial Group by 224.9% during the second quarter. Federated Hermes Inc. now owns 860,471 shares of the company’s stock worth $5,946,000 after buying an additional 595,649 shares during the period. AQR Capital Management LLC acquired a new stake in shares of The Hain Celestial Group in the second quarter worth $3,942,000. Hotchkis & Wiley Capital Management LLC increased its position in shares of The Hain Celestial Group by 54.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,224,590 shares of the company’s stock worth $10,568,000 after acquiring an additional 434,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of The Hain Celestial Group by 257.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 496,842 shares of the company’s stock valued at $4,288,000 after acquiring an additional 357,669 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

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.