Stubborn Street Slow to Back Hain Celestial

No HAIN, No Gain?   

Natural food company Hain Celestial has been misunderstood by Wall Street, Cramer said Thursday, and may continue to be.

Despite climbing 22% between Cramer’s April 6 recommendation and now, with the S&P 500 down 12% over that time period, six of 12 analysts covering HAIN still rate it a “hold.” And 12% of HAIN shares are presently being shorted. That’s also in spite of a 2-cent earnings beat and increased guidance for 2011 announced Wednesday after the bell.

The stock’s relatively cheap, too, fetching just 15 times earnings on a 12% long-term growth rate, another sign the Street is ignoring Hain Celestial. Cramer was especially surprised because many similar companies have been taken over in the last few years. Even without a bid, though, he likes this company.

To reaffirm is bullish call on Hain Celestial, Cramer invited CEO Irwin Simon back to the show. Watch the video for the full interview.

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