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."
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Shares of Helen of Troy closed at $86.87 yesterday.