Report
Zain Akbari, CFA
EUR 101.80 For Business Accounts Only

Hain Posts a Solid End to Fiscal 2017 as Its U.S. Segment Returns to Growth; Shares Fairly Valued

Our $41.50 per share valuation for no-moat Hain should not see a large change after the firm posted a solid end to fiscal 2017. We believe the shares are trading near their fair value and would counsel investors to await a more robust margin of safety, particularly as the modestly better-than-expected results should not lead to a material change in our long-term outlook (mid-single-digit top-line growth and adjusted operating margin expansion into the low-teens over the next five years).
For the...
Underlying
Hain Celestial Group Inc.

Hain Celestial Group manufactures, markets, distributes and sells organic and natural products. The company sells its products in the following categories: grocery, which includes infant formula, infant, toddler and kids foods, as well as other food products; snack products, which includes a variety of potato, root vegetable and other vegetable chips, straws, tortilla chips, whole grain chips, pita chips and puffs; personal care, which includes skin, hair and oral care, deodorants, baby care items, body washes, sunscreens and lotions; and tea, which provides varieties of herbal, green, black, wellness, rooibos and chai tea.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Zain Akbari, CFA

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