There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Snap-on (SNA) and Turtle Beach Corp (HEAR) with bullish sentiments.
Snap-on (SNA)
Barrington analyst Gary Prestopino maintained a Buy rating on Snap-on today. The company’s shares closed yesterday at $151.72.
Prestopino commented:
“We believe that Snap‐on continues to have a favorable outlook due to the aging of the car parc as well as technological complexity of newer vehicles on the road coupled with its solid brand franchise in the market. We acknowledge that the company is facing some headwinds related to the OEM dealership and U.K. markets that will present a challenge in 2019. There are no changes to our 2019 and 2020 non‐GAAP adjusted EPS estimates at $12.67 and $13.67, respectively. We have an OUTPERFORM investment rating on the stock with a $180‐190 price target range. Company Description Snap‐On, Inc. engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks.”
According to TipRanks.com, Prestopino ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.4% and a 41.2% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Payment Data Systems Inc, and US Auto Parts Network.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Snap-on with a $177.50 average price target, implying a 17.0% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $190 price target.
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Turtle Beach Corp (HEAR)
Maxim Group analyst Nehal Chokshi reiterated a Buy rating on Turtle Beach Corp today and set a price target of $28. The company’s shares closed yesterday at $15.85.
Chokshi commented:
“Dec Q results 17% above initial guidance largely due to market share gains. More importantly, market performance in-line with management expectations, which included refreshing Fortnite users, giving us increased confidence that installed base will continue to grow into CY19. Maintaining CY19 estimates, but modeling on seasonality now, rather than a constant y/y growth rate through CY19. Reiterating Buy rating & 12-month price target of $28.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 12.2% and a 61.4% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Turtle Beach Corp has an analyst consensus of Strong Buy, with a price target consensus of $27.33, a 72.4% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $24 price target.
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