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

The Hain Celestial Group, Inc. (NASDAQ:HAIN) shares gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. 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 traded.

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 company had revenue of $394.60 million for the quarter, compared to analyst estimates of $394.24 million. During the same quarter last year, the company posted ($0.04) EPS. The Hain Celestial Group’s revenue was down 7.2% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their target price on The Hain Celestial Group from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Barclays boosted their price objective on The Hain Celestial Group from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $8.00 price objective on shares of The Hain Celestial Group in a report on Wednesday, August 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $8.00 target price on shares of The Hain Celestial Group in a research report on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.57.

Insider Activity

In related news, insider Chad D. Marquardt purchased 5,300 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $8.32 per share, for a total transaction 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 trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HAIN. Creative Planning increased its holdings in shares of The Hain Celestial Group by 3.6% in the third quarter. Creative Planning now owns 36,298 shares of the company’s stock valued at $313,000 after purchasing an additional 1,272 shares during the last quarter. CWM LLC lifted its position in The Hain Celestial Group by 14.5% during the third quarter. CWM LLC now owns 10,098 shares of the company’s stock worth $87,000 after acquiring an additional 1,276 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of The Hain Celestial Group by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 54,172 shares of the company’s stock worth $426,000 after acquiring an additional 1,710 shares during the period. US Bancorp DE grew its position in shares of The Hain Celestial Group by 10.3% in the third quarter. US Bancorp DE now owns 19,518 shares of the company’s stock valued at $168,000 after purchasing an additional 1,815 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of The Hain Celestial Group by 125.9% during the second quarter. Signaturefd LLC now owns 3,994 shares of the company’s stock worth $28,000 after purchasing an additional 2,226 shares during the period. 97.01% of the stock is currently owned by institutional investors.

The Hain Celestial Group Stock Performance

The company has a fifty day moving average of $8.41 and a two-hundred day moving average of $7.56. The firm has a market capitalization of $665.34 million, a price-to-earnings 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 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.