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Hain Celestial’s Stock Performance Has Been Strong

Sue Miller

What Can Investors Expect from Hain Celestial's 3Q16 Results?

(Continued from Prior Part)

HAIN’s stock performance

Hain Celestial Group (HAIN) is set to report its fiscal 3Q16 results before the opening bell on March 4. Hain Celestial’s stock has gained 14% since its last quarter earnings release on February 1. The stock fell 6% after the company reported its fiscal 2Q16 results even though it surpassed earnings and revenue estimates.

Hain Celestial updated its previously announced guidance for fiscal 2016. This impacted its share price. Soon after its fiscal 2Q16 earnings release, Canaccord Genuity Group lowered its price target for Hain Celestial from $47 to $44. On April 19, Oppenheimer increased the target price for Hain Celestial to $44 from $38. They rate the stock “hold.” The higher price target is “more consistent with recent trough levels for HAIN,” the firm said. The stock closed 0.36% higher on the same day.

So far, the stock has gained 6% in 2016. It fell as much as 30% in 2015. It outperformed the Market represented by the S&P 500 Index by 3% as of April 28.

Peers’ stock performance

Hain Celestial is a part of the food industry. It has a market cap of $4.39 billion. Along with its subsidiaries, it manufactures, markets, distributes, and sells organic and natural products. Its peers in the industry include Cal-Maine Foods (CALM), Kraft Heinz (KHC), and McCormick & Company (MKC).

So far in 2016, Cal-Maine Foods has returned 7%. Kraft Heinz has returned 8%. McCormick has returned 11%, respectively. Cal-Maine Foods, Kraft Heinz, and McCormick & Company closed trade at $50.94, $78.36, and $93.37, respectively, on April 28. The First Trust NASDAQ-100 Ex-Technology Sector IndexSMFund (QQXT) and the First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) invest 1.7% of their portfolios in Kraft Heinz.

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