Helen of Troy price target lowered to $84 from $137 at Canaccord

Canaccord lowered the firm’s price target on Helen of Troy to $84 from $137 and keeps a Buy rating on the shares. The firm noted they reported Q1 results which were disappointing with the CEO calling this a rest year. The guidance is being driven by multiple headwinds including uncontrollable factors such as softening consumer spending impacting sales and margins, new tax laws, higher unplanned SG&A spend, and overall increased competition in key categories along with controllable challenges such as automation startup issues with the Tennessee distribution center and not fully utilizing brand equities to better compete across various categories.