Hain Celestial (HAIN) - Get Report  was sliding Tuesday after J.P. Morgan lowered its rating on the stock of the manufactured food company to underweight from neutral.

The firm also assigned a price target of $18 on the stock, which represents a potential 18% downside from the stock's closing price Monday of $21.90. J.P. Morgan's previous price target on shares of Hain was $23.

The stock declined 10% on Tuesday to $19.70.

J.P. Morgan said it believes that Brexit will present a risk to the company's business as well as a currency risk.  

Despite the downgrade, analyst Ken Goldman isn't negative on the company's strategy, but there are headwinds in the near-term that have not hit the stock price yet. 

Goldman believes that those headwinds will result in slimmer margins, leading to below-average returns that will overhang for a while. 

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