Maxim Group Sticks to Its Buy Rating for Hain Celestial

By Austin Angelo

In a report released today, Anthony Vendetti from Maxim Group reiterated a Buy rating on Hain Celestial (NASDAQ: HAIN), with a price target of $50. The company’s shares opened today at $42.99.

Vendetti observed:

“F4Q17 (Jun) total adjusted net sales of $725.1M, up 2.1% y/y on a constant currency basis, was relatively inline with our estimate of $725.0M, but slightly above consensus of $719.5M.”

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 11.1% and a 54.9% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Xtant Medical Holdings, Milestone Scientific, and Syneron Medical Ltd.

Hain Celestial has an analyst consensus of Hold, with a price target consensus of $42.40.

Based on Hain Celestial’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $707 million and quarterly net profit of $31.33 million. In comparison, last year the company earned revenue of $738 million and had a GAAP net loss of $88.6 million.

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Hain Celestial Group, Inc. engages in the production and distribution of organic and natural products. It offers products grocery, snacks, tea, personal care, and poultry.