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

Shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) traded down 5.5% on Thursday . The stock 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 Upgrades and Downgrades

Several equities research analysts recently commented on HAIN shares. Stifel Nicolaus increased their price objective on The Hain Celestial Group from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. DA Davidson reduced their price target on shares of 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. Piper Sandler restated a “neutral” rating and set a $8.00 price objective on shares of The Hain Celestial Group in a research report on Thursday, September 19th. Finally, Barclays cut their target price on shares of The Hain Celestial Group from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, The Hain Celestial Group has an average rating of “Hold” and an average target price of $9.43.

The Hain Celestial Group Stock Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.05 and a current ratio of 2.01. The stock has a market cap of $591.65 million, a P/E ratio of -6.98 and a beta of 0.71. The business’s 50-day moving average price is $8.16 and its 200-day moving average price is $7.74.

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

Institutional Trading of The Hain Celestial Group

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. increased its stake in The Hain Celestial Group by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 52,507 shares of the company’s stock worth $445,000 after buying an additional 2,814 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in The Hain Celestial Group during the 3rd quarter valued at approximately $93,000. Barclays PLC lifted its holdings in The Hain Celestial Group by 124.6% in the 3rd quarter. Barclays PLC now owns 182,609 shares of the company’s stock worth $1,576,000 after purchasing an additional 101,290 shares in the last quarter. Geode Capital Management LLC lifted its holdings in The Hain Celestial Group by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,229,181 shares of the company’s stock worth $19,241,000 after purchasing an additional 142,097 shares in the last quarter. Finally, M&T Bank Corp bought a new position in The Hain Celestial Group in the 3rd quarter worth approximately $127,000. 97.01% of the stock is currently owned by institutional investors.

About The Hain Celestial Group

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.