There’s a lot to be optimistic about in the Consumer Goods sector as 3 analysts just weighed in on Axcelis Technologies (ACLS), Iteris (ITI) and Shotspotter Inc (SSTI) with bullish sentiments.
Axcelis Technologies (ACLS)
B.Riley FBR analyst Craig Ellis maintained a Buy rating on Axcelis Technologies today and set a price target of $26. The company’s shares closed yesterday at $15.02, close to its 52-week low of $13.99.
Ellis observed:
“Ion Implant specialist Axcelis (ACLS) reported 2Q19 results Tuesday 8/6 AMC before a scheduled Wednesday 8/7 8:30AM ET CC. As feared, 3Q19 and updated CY19 sales views are lower than consensus forecasts, though numerous positives exist. First, while 2Q results were mixed versus our adjusted estimates with fractionally lower sales (-$0.7M), robust GM upside fueled higher EPS (+$0.05/share). Further, share repurchase was robust at $14.0M, with $21.0M remaining on the program, which at current price is worth 4.5% of shares out. Ahead, 3Q’s sales and EPS guide misses the Street by -$12.5M/$0.04, we suspect on Foundry downside. However, here too, GM is better, shielding EPS. Beyond these high-level immediate items, an updated investor deck has three key changes and implications.”
According to TipRanks.com, Ellis is a 4-star analyst with an average return of 6.6% and a 51.2% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Applied Materials Inc, Rudolph Technologies, and Ichor Holdings Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Axcelis Technologies with a $22.33 average price target.
See today’s analyst top recommended stocks >>
Iteris (ITI)
B.Riley FBR analyst Jeff Van Sinderen reiterated a Buy rating on Iteris today and set a price target of $8.50. The company’s shares closed yesterday at $5.06.
Van Sinderen wrote:
“AMC, on 8/6, ITI reported a roughly in-line FY 1Q20: Consolidated revenue increased 4.4%, Ag/Weather was flat, Sensors increased 17.9%, while Transportation Systems decreased 6.3% Y/Y . The Y/Y change in the VDOT contract impacted Systems revenue and is now completely anniversaried. Net bookings in Systems increased 7%, to $17.3M, and backlog increased 22%, to $49.5M, which includes over $4M in task orders from the VDOT that are incremental to the previously existing VDOT contract. The increase in Sensors revenue reflected the reinstatement of the Texas SmartBuy contract and strong performance in the Southern California. The company received the largest single order to date for VantageLive, for 58 intersections. The annualized renewal rate for VantageLive is 94%.”
According to TipRanks.com, Sinderen has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.3% and a 40.6% success rate. Sinderen covers the Consumer Goods sector, focusing on stocks such as Universal Electronics, Celsius Holdings Inc, and Chromadex Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Iteris with a $9.17 average price target, which is an 81.2% upside from current levels. In a report released today, Northland Securities also maintained a Buy rating on the stock with a $9 price target.
Shotspotter Inc (SSTI)
In a report released today, Christopher Van Horn from B.Riley FBR reiterated a Buy rating on Shotspotter Inc, with a price target of $59. The company’s shares closed yesterday at $34.62.
Van Horn wrote:
“ShotSpotter (SSTI) reported 2Q19 results last night that were only slightly below expectations on the top line ($10.3M vs. $10.4M) and well above expectations on the EPS line ($0.03 compared to our -$0.02). Adj. EBITDA was strong at $2.4M compared to the Street estimate of $2.0M. The company lowered guidance by roughly $1M from $44.5M-$45.5M to $42M-$44.5M, mainly due to the potential timing of new awards. We continue to recognize that guidance reductions are challenging; however, awards and timing for SSTI’s technology can be lumpy and the business that is delayed is likely to show up in 2020 and later in 2019. We think it was prudent of management to provide this outlook given what they saw in the market place and we are comfortable with the company’s existing pipeline, which could offset this decline.”
According to TipRanks.com, Horn is a 3-star analyst with an average return of 0.6% and a 46.5% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Standard Motor Products, Cooper Tire Rubber, and Dorman Products.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shotspotter Inc with a $47.17 average price target, a 36.3% upside from current levels. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $42 price target.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
