The natural foods company Hain Celestial Group Inc. ranks high in Citi Investment Research's "top Mid Cap buy recommendations".
Citi sets a target price of $34 for Hain, headquartered in Melville, up from $32.28 at the time of Citi's evaluation, SeekingAlpha.com reports.
Citi gave the following rationale for putting Hain on its list:
"Its EPS [earnings per share]forecast for the current year is 1.29 and next year is 1.48. According to the consensus estimates, its topline is expected to grow 17.1 percent current year and 6.5 percent next year. It is trading at a forward P/E [price-earnings ratio] of 35.56. Out of 12 analysts covering the company, 8 are positive and have buy recommendations, and four have hold ratings."
Others on Citi's top mid-cap buy list are BioMarin Pharmaceutical Inc., Energizer Holdings Inc., Advanced Micro Devices, JC Penney, Celanese Corp. and Dr Pepper Snapple Group.
Photo: Hain Celestial Group chief executive Irwin Simon at his Melville headquarters.