Herbalife (NYSE:HLF)‘s stock had its “buy” rating restated by investment analysts at DA Davidson in a note issued to investors on Thursday, AnalystRatings.Net reports. They currently have a $92.00 price objective on the stock. DA Davidson’s price objective would suggest a potential upside of 34.80% from the stock’s previous close.
The analysts wrote, “According to the October 2, 2013 Pershing Square Investor Letter, Pershing Square has ‘in recent weeks’ covered “more than 40%” of the estimated 24.5 million share short position – about 10 million shares. Pershing Square is said to have replaced it with OTC put options that are far out of the money. It is not clear that the counterparty to this short-cover trade is not now itself short, but the very heavy volume on a strong tape (Herbalife made a new all-time high of $74.94 yesterday) would lead us to believe that a substantial amount of the 10 million share cover has occurred. As of September 13th there were still $28.6 million shares sold short. The September 30th numbers will be announced on October 9th after the market close.”
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Herbalife (NYSE:HLF) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $74.30 price target on the stock. Separately, analysts at Barclays Capital initiated coverage on shares of Herbalife (NYSE:HLF) in a research note to investors on Tuesday, September 24th. They set an “overweight” rating on the stock. Finally, analysts at Argus upgraded shares of Herbalife (NYSE:HLF) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, August 21st. They now have a $80.00 price target on the stock, up previously from $4.80. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $72.43.
Shares of Herbalife (NYSE:HLF) traded up 0.01% during mid-day trading on Thursday, hitting $68.26. The stock had a trading volume of 712,261 shares. Herbalife has a 1-year low of $24.24 and a 1-year high of $74.94. The stock’s 50-day moving average is $66.8 and its 200-day moving average is $51.67. The company has a market cap of $7.035 billion and a price-to-earnings ratio of 15.08.
Herbalife (NYSE:HLF) last issued its quarterly earnings data on Monday, July 29th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.23. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts predict that Herbalife will post $4.99 earnings per share for the current fiscal year.
Herbalife Ltd. is a global network marketing company that sells weight management, nutritional supplements, energy, sports and fitness products and personal care products through a network of approximately 2.
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