The Hain Celestial Group (NASDAQ:HAIN) Trading Up 4.7% - Here's Why

Shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN - Get Free Report) shot up 4.7% during mid-day trading on Friday . The stock traded as high as $7.22 and last traded at $7.18. 917,863 shares traded hands during trading, a decline of 23% from the average session volume of 1,194,657 shares. The stock had previously closed at $6.86.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus raised their price target on shares of 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. Barclays cut their price target on The Hain Celestial Group from $9.00 to $8.00 and set an "equal weight" rating for the company in a research note on Monday. Piper Sandler reissued a "neutral" rating and issued a $8.00 price target on shares of The Hain Celestial Group in a research note on Thursday, September 19th. Finally, DA Davidson decreased their price objective 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. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently 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 50-day moving average price of $8.29 and a 200-day moving average price of $7.58.

The Hain Celestial Group (NASDAQ:HAIN - Get Free Report) last announced 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 positive return on equity of 3.13% and a negative net margin of 4.94%. The company had revenue of $394.60 million during the quarter, compared to the consensus estimate of $394.24 million. During the same period last year, the business posted ($0.04) EPS. The company's revenue for the quarter was down 7.2% on a year-over-year basis. Equities research analysts anticipate that The Hain Celestial Group, Inc. will post 0.46 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Chad D. Marquardt bought 5,300 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $8.32 per share, for a total transaction of $44,096.00. Following the completion of the acquisition, the insider now directly owns 15,300 shares in the company, valued at approximately $127,296. This represents a 53.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Hain Celestial Group

A number of institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in The Hain Celestial Group by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,058 shares of the company's stock valued at $386,000 after acquiring an additional 4,708 shares during the period. BNP Paribas Financial Markets increased its stake in The Hain Celestial Group by 164.6% during the 1st quarter. BNP Paribas Financial Markets now owns 70,526 shares of the company's stock worth $554,000 after purchasing an additional 43,873 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in The Hain Celestial Group by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 54,172 shares of the company's stock valued at $426,000 after buying an additional 1,710 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of The Hain Celestial Group by 17.9% in the first quarter. Sei Investments Co. now owns 54,087 shares of the company's stock valued at $425,000 after buying an additional 8,203 shares during the period. Finally, Inspire Investing LLC lifted its position in The Hain Celestial Group by 28.7% in the 1st quarter. Inspire Investing LLC now owns 45,139 shares of the company's stock valued at $355,000 after acquiring an additional 10,073 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.