Jefferies Lowers PT after The Hain Celestial Group (HAIN) Posts Mixed 3Q Results

Jefferies maintains a Hold rating on The Hain Celestial Group, Inc. (NASDAQ: HAIN) and lowers the price target to $62 (from $64) following mixed 3Q results. HAIN posted modest revenue, but was overshadowed by a US shortfall and a less than expected GM %.

Jefferies analyst, Kevin Grundy, commented on HAIN, saying, "While HAIN remains a well-managed and unique asset in the secularly attractive health & wellness space, we believe the soft 3Q results in the US segment (c. 50% sales, c. 70% profits) and slowing in recent data points (i.e. Nielsen, SPINS, WFM 2Q comp, etc.) will likely keep a lid on the stock in the near-term, particularly with valuation at the high-end of the group at 17x NTM EV/EBITDA. We're trimming our FY16-17 EPs est. by 3% and maintain our Hold rating."

For an analyst ratings summary and ratings history on Hain Celestial click here. For more ratings news on Hain Celestial click here.

Shares of Hain Celestial closed at $59.17 yesterday.

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