Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Standard Motor Products (NYSE:SMP), Kemet Corp (NYSE:KEM) and Enphase Energy (NASDAQ:ENPH).
Standard Motor Products (SMP)
In a report released yesterday, Christopher Van Horn from B.Riley FBR reiterated a Hold rating on Standard Motor Products, with a price target of $48. The company’s shares opened today at $54, close to its 52-week high of $55.29.
Van Horn said:
“Standard Motors Products (SMP – Neutral, $48 PT) reported a solid quarter as tailwinds from a hot summer and a broader upswing in the U.S. aftermarket lifted earnings above our and consensus’ expectations. Sales were especially robust in the company’s temperature control segment, which benefits disproportionately from hot summer weather because of its compressors business. While U.S. tariffs on China took effect late in the quarter and are a much-discussed potential hurdle for the auto aftermarket, we believe that SMP , which sources a fair amount of product from China (as do its peers), should be able to pass through cost increases. More broadly, we expect the U.S.”
According to TipRanks.com, Horn is a 4-star analyst with an average return of 3.9% and a 49.5% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Motorcar Parts Of America, Methode Electronics, and Cooper Tire Rubber.
The the analyst consensus on Standard Motor Products is currently a Hold rating.
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Kemet Corp (KEM)
In a report released yesterday, Josh Nichols from B.Riley FBR maintained a Buy rating on Kemet Corp, with a price target of $33. The company’s shares opened today at $19.50.
Nichols noted:
“We will update our model after the company reports earnings tomorrow morning.”
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 12.4% and a 34.3% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.
Kemet Corp has an analyst consensus of Moderate Buy, with a price target consensus of $25.
Enphase Energy (ENPH)
In a report released yesterday, Carter Driscoll from B.Riley FBR maintained a Buy rating on Enphase Energy, with a price target of $7.50. The company’s shares opened today at $4.13.
Driscoll noted:
“Adds another brand name ACM partner. Prior to market open today (October 29), Enphase Energy (ENPH-Buy – $7.50 PT) announced a strategic partnership with LONGi Solar to develop Solar AC Modules (ACMs) with ENPH’s IQ7 microinverters. As a top manufacturer of monocrystalline wafers, cells, and modules, LONGi Solar represents a natural partner for ENPH. The two companies will develop two AC Modules, both compatible with ENPH’s IQ 7 microinverters. LONGi’s high-efficiency mono technology for 300-320W 60-cell will utilize ENPH’s IQ 7 microinverter and LONGi’s 340-375W 72-cell modules will utilize ENPH’s IQ 7+ microinverter.”
According to TipRanks.com, Driscoll ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.2% and a 32.7% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Canadian Solar Inc.
Enphase Energy has an analyst consensus of Strong Buy, with a price target consensus of $8.25, implying a 99.8% upside from current levels. In a report issued on October 15, Oppenheimer also assigned a Buy rating to the stock.
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