Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Kla-Tencor Corp (NASDAQ: KLAC), Taylor Morrison (NYSE: TMHC) and Iteris (NYSE MKT: ITI).
Kla-Tencor Corp (NASDAQ: KLAC)
B.Riley FBR analyst Craig Ellis assigned a Buy rating to Kla-Tencor Corp (NASDAQ: KLAC) yesterday and set a price target of $142. The company’s shares opened today at $114.20.
Ellis noted:
“Earlier this week we checked in with KLAC, drilling down on China, ORBK deal dynamics and Memory. Recall China shipments have touched records since F3Q17 while Memory mix has done the same recently, though F1H19’s headline shipment outlook suggested a mix decline as Foundry and Logic strengthen. Regarding China, we sense engagement across virtually all 19 projects we track, and our analysis shows $5.0B in China C17-20 sales is achievable. We’re also updating our KLAC+ORBK PF model. Beyond KLAC’s higher base (F18-20 EPS of $7.93, $8.93 and $9.78) changes are fractional with C19 EPS accretion still $0.62 while C20 dips a penny to $1.59. LT EPS could rise 88% from C22’s 15.65+.”
According to TipRanks.com, Ellis is a top 25 analyst with an average return of 39.8% and a 84.5% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Silicon Laboratories, Applied Materials, and Brooks Automation.
Currently, the analyst consensus on Kla-Tencor Corp is Strong Buy and the average price target is $134.67, representing a 17.9% upside.
In a report issued on June 5, Deutsche Bank also maintained a Buy rating on the stock with a $122 price target.
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Taylor Morrison (NYSE: TMHC)
In a report released yesterday, Alex Rygiel from B.Riley FBR reiterated a Hold rating on Taylor Morrison (NYSE: TMHC), with a price target of $29. The company’s shares opened today at $21.49.
Rygiel said:
“This morning, 6/7, Corporation (TMHC-Neutral, $29 PT) announced an agreement to acquire AV Homes (AVHI). This transaction reconfirms our belief that M&A within the homebuilder market is accelerating despite ongoing strength in new home construction demand. We suspect that the low inventory in the housing market (new and existing) coupled with rising land prices is not fully recognized in certain public company valuations making M&A a more attractive use of capital than land acquisitions. We reiterate our Neutral rating on the shares of TMHC.”
According to TipRanks.com, Rygiel is a 5-star analyst with an average return of 14.4% and a 71.6% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Tutor Perini Corp, Quanta Services, and MYR Group.
Taylor Morrison has an analyst consensus of Moderate Buy, with a price target consensus of $29.17.
Iteris (NYSE MKT: ITI)
In a report released today, Jeff Van Sinderen from B.Riley FBR reiterated a Buy rating on Iteris (NYSE MKT: ITI), with a price target of $9. The company’s shares opened today at $4.64, close to its 52-week low of $4.09.
Van Sinderen said:
“AMC, on 6/7, ITI reported 4Q revenue/EBITDA that were in line with our estimates. Consolidated revenue was flat, primarily due to continued choppiness in sensor revenue from Analytics segments up 1% Y/Y . Systems backlog totaled $37.7M, excluding the renewed Virginia DOT (VDOT) contract and a recently awarded $3M indefinite delivery/indefinite quantity (IDIQ) contract from the Texas DOT. GM% was up 40 bps, and up in all segments, except Sensors. Performance in ClearAg drove growth in Ag/Weather, partially offset by lower revenue in ClearPath Weather, due to the elimination of third-party revenue, as of 3Q.”
According to TipRanks.com, Sinderen is a 2-star analyst with an average return of 0.4% and a 49.4% success rate. Sinderen covers the Services sector, focusing on stocks such as Tilly’s Inc, Kirkland’s, and Zumiez Inc.
Currently, the analyst consensus on Iteris is Moderate Buy and the average price target is $8, representing a 72.4% upside.
In a report issued on May 31, Craig-Hallum also maintained a Buy rating on the stock with a $7 price target.
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