Hain Celestial Group (NASDAQ:HAIN) was upgraded by equities research analysts at Piper Jaffray Cos. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $94.00 price target on the stock, up from their previous price target of $80.00. Piper Jaffray Cos.’s target price would suggest a potential upside of 20.24% from the company’s current price.
The analysts wrote, “We are upgrading HAIN to Overweight from Neutral and raising our price target to $94 from $80 as we believe it is a high quality play on the secular growth of healthy foods. Specifically, we are encouraged by the ability to capture growth across all channels of distribution as the consumer continues to shift their buying behaviors. Additionally, we believe HAIN’s analyst day Tuesday afternoon, Ella’s launch in Walmart and improvements in UK operations could prove to be catalysts over the next few quarters. Overall, we view HAIN as an attractive core long-term holding within our Healthy Lifestyle universe with solid organic and acquisition driven growth.”
Hain Celestial Group (NASDAQ:HAIN) traded up 2.29% during mid-day trading on Monday, hitting $79.97. 269,040 shares of the company’s stock traded hands. Hain Celestial Group has a 52 week low of $51.51 and a 52 week high of $85.48. The stock has a 50-day moving average of $78.70 and a 200-day moving average of $69.68. The company has a market cap of $3.814 billion and a price-to-earnings ratio of 32.41.
Hain Celestial Group (NASDAQ:HAIN) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.62 by $0.03. The company had revenue of $463.50 million for the quarter, compared to the consensus estimate of $454.82 million. During the same quarter last year, the company posted $0.47 earnings per share. Hain Celestial Group’s revenue was up 32.1% compared to the same quarter last year.
A number of other analysts have also recently weighed in on HAIN. Analysts at Janney Montgomery Scott reiterated a “buy” rating on shares of Hain Celestial Group in a research note to investors on Tuesday, September 17th. They now have a $75.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Hain Celestial Group from $86.00 to $94.00 in a research note to investors on Tuesday, September 17th. They now have an “overweight” rating on the stock. Finally, analysts at Jefferies Group reiterated a “market perform” rating on shares of Hain Celestial Group in a research note to investors on Monday, September 16th. They now have a $91.00 price target on the stock, up previously from $74.00. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Hain Celestial Group currently has an average rating of “Buy” and an average price target of $84.25.
The Hain Celestial Group, Inc manufactures, markets, distributes and sells natural and organic products under brand names, which are sold as better-for-you products.
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