There’s a lot to be optimistic about in the Consumer Goods sector as 3 analysts just weighed in on Select Interior Concepts Inc (SIC), Axcelis Technologies (ACLS) and Lumentum Holdings (LITE) with bullish sentiments.
Select Interior Concepts Inc (SIC)
In a report released today, Alex Rygiel from B.Riley FBR reiterated a Buy rating on Select Interior Concepts Inc, with a price target of $16. The company’s shares closed yesterday at $12.87.
Rygiel commented:
“We expect Select Interior Concepts (SIC) to announce 1Q19 results on Friday morning (5/10) before the market opens. We are comfortable with our 1Q19 estimates given our conservative assumptions. Broadly speaking, there have been mixed results across building materials companies and homebuilders YTD. Most recently, results seem to be dependent on geographic mix and price point of new homes (entry level/lower priced homes were stronger than higher priced homes). In addition, weather in certain parts of the US (particularly across the Midwest) was difficult, delaying new construction starts. January started out very weak across the residential new construction market, but sequentially improved every month, such that we believe new single family home construction could be up low single-digits for the year.”
According to TipRanks.com, Rygiel is a 4-star analyst with an average return of 7.6% and a 58.8% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Tutor Perini Corp, and Quanta Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Select Interior Concepts Inc with a $16 average price target.
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Axcelis Technologies (ACLS)
In a report released today, Craig Ellis from B.Riley FBR maintained a Buy rating on Axcelis Technologies, with a price target of $30. The company’s shares closed yesterday at $21.96.
Ellis wrote:
“Ion Implant specialist Axcelis (ACLS) reported 1Q19 results Tuesday 5/7 AMC before a scheduled Wednesday 8:30am ET CC. Beyond lower-than-expected 2Q19 and updated CY19 sales views, numerous positives exist we believe supporting our bullish long-term ACLS thesis, though shares are likely to be volatile Wednesday given the miss. First, 1Q results were mixed versus the Street with lower sales (-$1.0M) but better opex fueling higher EPS (+$0.07). Ahead, 2Q’s guide missed the Street by -$17.3M/-$0.13, we suspect on Spares&Services downside since Memory expectations were already low. An updated investor deck had four key changes and implications.”
According to TipRanks.com, Ellis is a top 100 analyst with an average return of 17.2% and a 64.9% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Rudolph Technologies, Skyworks Solutions, and Brooks Automation.
The word on The Street in general, suggests a Hold analyst consensus rating for Axcelis Technologies.
Lumentum Holdings (LITE)
B.Riley FBR analyst Dave Kang reiterated a Buy rating on Lumentum Holdings today and set a price target of $74. The company’s shares closed yesterday at $60.26.
Kang commented:
“Holdings (LITE) reported F3Q revenue/EPS of $432.9M/ $0.91, compared with consensus of $430M/$0.85. For F4Q, the company guided revenue/EPS of $405M-$425M/$0.85-$1.00 including a $20M-$25M revenue impact from sale of datacom products to CIG. The ROADM (Reconfigurable Optical Add/Drop Multiplexer) demand was strong (up 11% Q/Q and 80% Y/Y) and is expected to remain strong for the foreseeable future, as China is in the early stages of the ROADM adoption cycle. Datacom revenue increased 72% Q/Q due to the first full quarter revenue contributions from Oclaro. I&C (Industrial & Consumer) revenue, mostly consisting of 3D sensing (3DS), decreased 35% Q/Q to $77.2M due to seasonality.”
According to TipRanks.com, Kang is a 5-star analyst with an average return of 20.6% and a 66.3% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Acacia Communications, and Luna Innovations Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lumentum Holdings with a $71.58 average price target, representing a 18.8% upside. In a report issued on April 29, Rosenblatt Securities also reiterated a Buy rating on the stock with a $80 price target.
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