Jefferies Cuts Price Target on Helen of Troy (HELE) to $105 Following 2Q Report

Jefferies maintained a Buy rating on Helen of Troy (NASDAQ: HELE), and cut the price target to $105.00 (from $116.00), following the company's 2Q earnings report. Revenue came in just -10bps below consensus despite the beauty business declining at the worst rate in two years. EPS was reported at $1.31, ahead of the consensus estimates of $1.14, driven by GM expansion.

Analyst Trevor Young commented, "Last night, HELE reported F2Q17 results. In-line revenue, +420bps GM improvement and a +15% adj. EPS beat ($1.31 vs. cons. $1.14) were positives, but reduced FY revenue guidance ex. Hydro Flask on potential high-teen beauty declines and continued nutrition struggles has us cautious in the near term. We are lowering revenue/EPS estimates and our PT, but maintain our Buy rating as key tenets of our thesis remain intact."

For an analyst ratings summary and ratings history on Helen of Troy click here. For more ratings news on Helen of Troy click here.

Shares of Helen of Troy closed at $86.87 yesterday.

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