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Hain Celestial Shares Slide as Analysts Lower Target Prices

1 Mins read

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.

Analyst Actions

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.

Consistent Trend

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.

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