Shares of Hain Celestial slipped on the Nasdaq on Monday as analysts revised their target prices for the stock, signaling potential concerns for investors.
Decline in Share Value
At present, shares are down 4.9% at $11.28, reflecting a decline of approximately 31% for the year. The stock reached an intraday low of $11.01, emphasizing the downward trend.
JPMorgan and Evercore ISI Group, prominent financial institutions, recently adjusted their price targets for Hain Celestial, as reported by Benzinga. JPMorgan reduced its target from $14 to $11 while maintaining a neutral stance on the company. Evercore ISI Group also revised its target from $14 to $13, categorizing Hain Celestial as in-line.
Last week, Stifel and Mizuho joined the list of institutions that lowered their target prices for Hain Celestial shares. Stifel decreased their target from $16 to $13, while Mizuho reduced theirs from $14 to $12, according to Benzinga’s report.
Earnings Report Impact
Adding to the concerns, Hain Celestial reported a loss in the fourth quarter, citing a fall in sales. The decline was attributed to weakened demand for plant-based foods in Europe and softened sales in North America.
Maintaining Close Monitoring
Investors and market observers may want to closely monitor the performance of Hain Celestial shares given the recent analyst actions and concerning earnings report.