Analyst Susan Anderson of Canaccord Genuity maintained a Buy rating on Helen Of Troy (HELE – Research Report), with a price target of $143.00.
Susan Anderson’s Buy rating on Helen Of Troy is based on a combination of factors that indicate the company’s solid performance and potential for growth. Despite a slight decline in sales, the company’s third-quarter results surpassed both top and bottom-line expectations, suggesting resilience in its operational efficiency. The company’s leadership brands such as OXO, Osprey, PUR, and Drybar continue to drive growth, while the company is actively working on its Project Pegasus efficiency plan, which aims to significantly improve EBIT by FY26. Moreover, Helen Of Troy has shown commitment to reducing its debt and is on track to achieve a more conservative leverage target by the end of FY24, alongside strong free cash flow projections.
Furthermore, Anderson’s optimism is supported by Helen Of Troy’s performance in the Home & Outdoor segment, which has seen an increase in sales due to expanded distribution and sustained consumer demand. Even in the face of challenges like the bankruptcy of Bed, Bath & Beyond, standout brands like OXO have demonstrated the ability to attract customers. Although the Beauty & Wellness segment experienced a downturn, it still performed better than expected and showed strength internationally. Additionally, the potential for future M&A activity appears more promising as the company moves towards a healthier leverage level, which could provide additional growth opportunities and drive value for shareholders.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Helen Of Troy (HELE) Company Description:
Helen of Troy Ltd. engages in the manufacture and distribution of personal care and household products. It operates through the following segments: Housewares, Healthcare and Home, and Beauty. The Housewares segment offers food preparation tools, containers, electronics, baby care, and cleaning products. The Healthcare and Home segment develops and provides healthcare and home comfort products including thermometers, humidifiers, blood pressure monitors, heating pads, water filtration systems, portable heaters, air purifiers, and insect control devices. The Beauty segment manufactures and sells electric hair care, wellness appliances, and beauty products. The company was founded by Gerald J. Rubin and Stanlee N. Rubin in 1968 and is headquartered in Hamilton, Bermuda.
Read More on HELE:
- Options Volatility and Implied Earnings Moves Today, January 08, 2024
- Options Volatility and Implied Earnings Moves This Week, January 08 – January 12, 2024
- Helen of Troy narrows FY24 adjusted EPS view to $8.60-$8.85 from $8.50-$9.00
- Helen of Troy reports Q3 adjusted EPS $2.79, consensus $2.75
- HELE Earnings Report this Week: Is It a Buy, Ahead of Earnings?
