Helen of Troy (NASDAQ:HELE) Trading 7% Higher Following Analyst Upgrade

Helen of Troy Limited (NASDAQ:HELE)’s stock price was up 7% during trading on Monday after DA Davidson raised their price target on the stock from $71.00 to $78.00. DA Davidson currently has a neutral rating on the stock. Helen of Troy traded as high as $75.00 and last traded at $74.82. Approximately 39,056 shares changed hands during trading, a decline of 91% from the average daily volume of 443,681 shares. The stock had previously closed at $69.92.

Separately, Canaccord Genuity Group restated a “buy” rating and issued a $84.00 price objective on shares of Helen of Troy in a research note on Monday, October 7th.

Institutional Investors Weigh In On Helen of Troy

A number of hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its stake in shares of Helen of Troy by 30,278.8% in the 3rd quarter. Pacer Advisors Inc. now owns 1,069,940 shares of the company’s stock valued at $66,176,000 after purchasing an additional 1,066,418 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Helen of Troy by 153.7% in the 1st quarter. Bessemer Group Inc. now owns 576 shares of the company’s stock valued at $67,000 after acquiring an additional 349 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Helen of Troy in the 2nd quarter valued at approximately $289,000. Principal Financial Group Inc. raised its position in shares of Helen of Troy by 37.9% in the 3rd quarter. Principal Financial Group Inc. now owns 124,834 shares of the company’s stock valued at $7,721,000 after acquiring an additional 34,318 shares during the period. Finally, Earnest Partners LLC raised its position in shares of Helen of Troy by 2.7% in the 2nd quarter. Earnest Partners LLC now owns 666,256 shares of the company’s stock valued at $61,789,000 after acquiring an additional 17,741 shares during the period.

Helen of Troy Stock Up 2.5 %

The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.38 and a beta of 0.85. The business’s 50-day moving average is $64.61 and its two-hundred day moving average is $72.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.77.

Helen of Troy (NASDAQ:HELE) last announced its earnings results on Wednesday, October 9th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.05 by $0.16. The firm had revenue of $474.20 million for the quarter, compared to the consensus estimate of $458.85 million. Helen of Troy had a net margin of 7.35% and a return on equity of 9.31%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the company posted $1.45 EPS. On average, equities analysts anticipate that Helen of Troy Limited will post 6.35 earnings per share for the current year.

Helen of Troy declared that its board has approved a stock buyback plan on Thursday, September 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 39.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About Helen of Troy

Helen of Troy Limited provides various consumer products in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates in two segments: Home & Outdoor and Beauty & Wellness. The Home & Outdoor segment offers food storage containers, kitchen utensils for cooking and preparing salads, fruits, vegetables and meats, graters, slicers and choppers, baking essentials, kitchen organization, bath, cleaning, infant and toddler products, and coffee preparation tools and electronics; and insulated beverageware, including bottles, travel tumblers, drinkware, mugs, food and lunch containers, insulated totes, soft coolers, outdoor kitchenware, and accessories.