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In a recent transaction, Chad D. Marquardt, the President of North America for Hain Celestial Group Inc. (NASDAQ:HAIN), purchased 3,200 shares of the company’s common stock. The insider buying comes as InvestingPro analysis shows the stock trading significantly below its Fair Value, with shares down nearly 58% over the past year. The shares were acquired at a price of $4.04 each, amounting to a total transaction value of $12,928. Following this purchase, Marquardt’s direct ownership in the company stands at 23,025 shares. This acquisition reflects Marquardt’s continued investment in the company, which is known for its focus on natural and organic food products. While the company faces near-term challenges with negative earnings, InvestingPro data shows strong liquidity with current assets nearly double its short-term obligations. Discover more insights and 10+ additional ProTips with a subscription to InvestingPro’s comprehensive research platform.
In other recent news, Hain Celestial reported fiscal second-quarter earnings that fell short of Wall Street expectations, with earnings per share at $0.08, missing the analyst estimate of $0.12. Revenue also disappointed, coming in at $411 million against the consensus estimate of $432.49 million. Following these results, several analyst firms adjusted their outlooks for the company. Evercore ISI reduced its price target for Hain Celestial from $9.00 to $6.00, maintaining an "In Line" rating. Stifel also lowered its price target to $6.00 from $7.00, keeping a Hold rating, while Bernstein reduced its target from $12.00 to $8.00 but maintained an Outperform rating. Jefferies set a new target of $4.50, down from $7.55, and continued to hold a Hold rating. The analysts’ revisions reflect concerns over Hain Celestial’s organic sales decline, which dropped 9% year-over-year, and a challenging macroeconomic environment. Despite these challenges, the company emphasized its strong operating cash flow and strategic focus on better-for-you food and beverages.
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