Texas Capital upgraded shares of Herbalife (NYSE:HLF – Free Report) to a strong-buy rating in a research report released on Thursday morning,Zacks reports.
Several other brokerages also recently issued reports on HLF. Citigroup reissued a “buy” rating and set a $17.00 target price (down from $21.00) on shares of Herbalife in a research note on Friday, August 7th. Wall Street Zen raised shares of Herbalife from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings cut shares of Herbalife from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Finally, UBS Group set a $21.00 target price on shares of Herbalife in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.
Read Our Latest Stock Analysis on HLF
Herbalife Stock Performance
Herbalife (NYSE:HLF – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). Herbalife had a negative return on equity of 43.90% and a net margin of 3.16%.The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts forecast that Herbalife will post 2.68 EPS for the current year.
Herbalife declared that its board has approved a share repurchase plan on Tuesday, September 8th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to purchase up to 19.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
Institutional Investors Weigh In On Herbalife
A number of hedge funds have recently bought and sold shares of HLF. Miramontes Capital LLC purchased a new stake in shares of Herbalife during the 2nd quarter valued at about $179,000. Tidal Investments LLC bought a new position in shares of Herbalife in the 2nd quarter valued at about $140,000. Engineers Gate Manager LP grew its position in Herbalife by 154.1% in the second quarter. Engineers Gate Manager LP now owns 202,483 shares of the company’s stock worth $2,663,000 after acquiring an additional 122,788 shares in the last quarter. Squarepoint Ops LLC increased its stake in Herbalife by 39.4% during the second quarter. Squarepoint Ops LLC now owns 428,376 shares of the company’s stock worth $5,633,000 after acquiring an additional 121,026 shares during the last quarter. Finally, Corient Private Wealth LP increased its stake in Herbalife by 697.8% during the second quarter. Corient Private Wealth LP now owns 179,125 shares of the company’s stock worth $2,355,000 after acquiring an additional 156,672 shares during the last quarter.
Herbalife Company Profile
Herbalife Ltd. (NYSE: HLF) is a global nutrition and wellness company that develops and sells products through a network of independent distributors. Its offerings are designed to support weight management, balanced nutrition, energy, sports performance and personal care.
The company’s product portfolio includes meal-replacement shakes, protein and fiber products, dietary supplements, vitamins, herbal teas, sports nutrition products and skin- and body-care items. Herbalife distributes its products in markets around the world, including North America, Latin America, Europe, Asia-Pacific and Africa, primarily through direct selling and independent members who provide product information and personalized support to consumers.
Herbalife was founded in 1980 by Mark Hughes and has since expanded from a primarily weight-management business into a broader nutrition and wellness enterprise.
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