Why Hain Celestial Shares Are Popping Today

The Hain Celestial Group Inc HAIN shares are trading higher by 6% after Stephens & Co. initiated the coverage on the stock.

Analyst Jim Salera initiated with an Overweight rating and a price target of $17.

The analyst believes HAIN has a more robust and highly diversified brand portfolio (including salty snacks, yogurt, and tea) among the stocks in his coverage. 

Salera sees the company's international business as the bright spot, with the differentiated brand portfolio performing well despite continued inflation and a stagnant economy in the U.K. (accounts for ~60% of overseas sales).

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The analyst sees HAIN's growth brands, Turbocharge and Targeted Investment, positioned to gain market share. 

Despite lowered guidance, the analyst is optimistic about the recent change in leadership and thinks the management is setting a blank slate.

In January 2023, the company's new CEO and President, Wendy P. Davidson, assumed the role.

The analyst estimates revenue of $1.80 billion (in line with consensus), adjusted EBITDA of $169.7 million (consensus: $168.0 million), and adjusted EPS of $0.51 in 2023 and $1.87 billion (in line with the consensus), $192.1 million (consensus: $188.5 million), and $0.64 respectively in 2024. 

Price Action: HAIN shares are up 5.65% at $12.61 on the last check Friday.