There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Semtech (NASDAQ:SMTC) and Hain Celestial (NASDAQ:HAIN) with bullish sentiments.
Semtech (SMTC)
Oppenheimer analyst Rick Schafer maintained a Buy rating on Semtech today and set a price target of $60. The company’s shares closed on Friday at $57.30, close to its 52-week high of $60.55.
According to TipRanks.com, Schafer is a 5-star analyst with an average return of 16.0% and a 68.9% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as Akoustis Technologies, Skyworks Solutions, and Texas Instruments.
Semtech has an analyst consensus of Strong Buy, with a price target consensus of $62.40, representing an 8.9% upside. In a report issued on September 10, Piper Jaffray also maintained a Buy rating on the stock with a $63 price target.
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Hain Celestial (HAIN)
In a report released today, Akshay Jagdale from Jefferies reiterated a Buy rating on Hain Celestial, with a price target of $45. The company’s shares closed on Friday at $26.26, close to its 52-week low of $25.41.
Jagdale observed:
“We continue to believe HAIN’s TAM can double over time growing at ~3-5% CAGR. We expect market share trends to reverse over the next 12 months owing to better execution, increased brand investments & lapping of SKU rat., resulting in HAIN growing in line with its categories (3-5%). Additionally, we believe margin upside & M&A optionality remains amongst the best in our group. We reiterate our Buy rating & are raising our PT to $45. Differentiated work we’ve done includes: 1) deep-dive analysis of Nielsen data; 2) discussion w/ senior NOF buyer at a major national retailer; 3) consumer survey; 4) valuation framework (incl. SOP & hypothetical buyout analyses) & 5) discussions with mgmt. We expect market share trends in US segment to reverse over next 12 months. We expect a reversal in share trends driven by the lapping of HAIN’s SKU rat.”
According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 4.2% and a 53.2% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and J & J Snack Foods.
Currently, the analyst consensus on Hain Celestial is a Moderate Buy with an average price target of $33.83.
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