There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Century Communities (CCS) and Celsius Holdings Inc (CELH) with bullish sentiments.
Century Communities (CCS)
In a report released today, Alex Rygiel from B.Riley FBR reiterated a Buy rating on Century Communities, with a price target of $36. The company’s shares closed last Monday at $29.92, close to its 52-week high of $30.25.
Rygiel observed:
“We raise our price target on shares of Century Communities, Inc. (CCS—Buy, $36 $36, or 8x 2020 estimated EPS. We have increasing confidence that home sales trends and profitability continue to improve 3Q19 to date. In addition, the macro outlook for interest rates declining further, as well as solid broader economic conditions, provide us with an increased degree of confidence for 2020. Earlier this week, we hosted meetings for management.”
According to TipRanks.com, Rygiel is a 5-star analyst with an average return of 8.1% and a 61.1% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Tutor Perini Corp, and Quanta Services.
Century Communities has an analyst consensus of Moderate Buy, with a price target consensus of $34.25, representing a 16.0% upside. In a report issued on September 11, J.P. Morgan also upgraded the stock to Buy with a $32.50 price target.
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Celsius Holdings Inc (CELH)
B.Riley FBR analyst Jeff Van Sinderen reiterated a Buy rating on Celsius Holdings Inc today and set a price target of $10. The company’s shares closed last Monday at $3.60.
Van Sinderen observed:
“Celsius Holdings (CELH) announced the acquisition of its distributor in the Nordic region, Func Foods (Func), and a public offering of common shares, AMC, on 9/11. Deal pricing, at $3.60/ share, was announced shortly after markets opened on 9/12. CELH is using the majority of proceeds from the offering to consummate the Func acquisition, with remaining proceeds earmarked to pursue growth opportunities. CELH paid ~$24.6M (~$15.1M in cash and ~$9.5M in assumed debt), representing ~1x LTM revenue and immediately accretive. The Func acquisition removes disruptive forces that impacted Nordic distribution as a result of the cash-distressed, over-leveraged situation of Func.”
According to TipRanks.com, Sinderen is a 1-star analyst with an average return of -2.1% and a 46.3% success rate. Sinderen covers the Consumer Goods sector, focusing on stocks such as Universal Electronics, Chromadex Corp, and Steven Madden.
Celsius Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $9.
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