Bullish Stock to Watch: Hain Celestial Group Inc (NASDAQ: HAIN)

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Hain Celestial Group Inc (NASDAQ: HAIN) stock rose 2.41% on September 17th, 2020 and continued its bullish momentum on 18th September, 2020 rising over 1.7% (as of 10:50 am GMT-4; Source: Google finance) after the company upgraded by investment analysts at Truist Financial from a “hold” rating to a “buy” rating in a report released on Thursday, The Fly reports. The brokerage presently has a $40.00 price target on the stock. Further, HAIN’s Alba Botanica, which is a leading naturally inspired brand of the company has won Allure Best of Beauty Award. The Acnedote Face & Body Scrub, which is a part of the brands top selling Acnedote line featuring plant-based acne treatments, was recognized by Allure editors and experts as a winner in the body category, “Body Scrub”.

Moreover, in snacks, the company had posted growth with new buyers and repeat rates before the onset of the virus. During COVID, the company continues to add new buyers and repeat purchases rose 8%. Sensible Portions led the way growing share substantially and reported double-digit top line growth on top of double-digit growth last year.The Screamin’ Hot innovation has very strong velocities and the company continues to expand distribution and the company have innovation on Garden of Eatin’ and Terra which will ship later this year. In yogurt, Greek Gods had added more buyers and improved repeat rates, more than any other leading yogurt brand in the category and the company had also gained share, grew TDPs and grew up velocity well ahead of the category. The company’s advertising has been working and strengthens the brand point of difference. The keto yogurt which the company had just started shipping addresses one of the big barriers for trial on the brand.

For fiscal 2021, the company anticipates continued gross profit dollar and margin expansion in fiscal ’21. The company also anticipates delivering strong double-digit growth in adjusted EBITDA dollars and continued EBITDA margin expansion. The company projects the first half of fiscal ’21 to be stronger on both the top line and bottom line than the second half on the back of the current eating at home trends moderate throughout the year. Top line is expected to grow in first half. Adjusted for divestitures and discontinued brands with the Get Bigger brands in North America growing double-digits, continuing the momentum delivered in the second half of last year. The company expects a slowing of growth in the second half of fiscal ’21 in reality, though the outlook for the second half of the year is not very clear due to the pandemic.

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