Consumer Sector Update for 09/09/2016: RH,ALN,HOV

Shutterstock photo

Top Consumer Stocks

WMT -1.87%

MCD -0.82%

DIS -1.39%

CVS -1.34%

KO -2.28%

Consumer stocks were falling hard during Friday trade, with shares of consumer staples companies in the S&P 500 posting a 1.8% retreat while shares of consumer discretionary firms in the S&P 500 were in a 1.6% skid.

In company news, Restoration Hardware Holdings ( RH ) was climbing Friday after the specialty retailer reported better-than-expected Q2 net income and sales during the three months ended July 31.

Excluding one-time items, the company earned $0.44 per share, beating the Capital IQ Consensus by $0.15 per share. Net sales rose 7.2% over year-ago to $543.4 million, also topping the analyst mean by around $31.26 million.

The retailer also forecast adjusted per-share earnings between $0.13 to $0.18 for the current quarter ending next month, lagging Street views by at least $0.23 per share. It also sees Q3 net sales in a range of $520 million to $530 million, trailing analyst views by at least $10.37 million. also reiterated its in-line FY17 financial outlook.

Following last night's earning release, analysts at the Telsey Advisory Group today raised their price target for Restoration Hardware stock by $6 to $41 a share, also reiterating their Market Perform investment rating.

RH shares were up almost 4.5% this afternoon at $37.22 each, climbing to a session high of $39.98 a share soon after Friday's opening bell.

In other sector news,

(+) ALN, (+6.4%) Discloses talks with Shengrong Environmental Protection Holding Co. over a potential transaction. Forms special board committee to evaluate the deal's transaction.

(-) HOV, (-12.1%) Fiscal Q3 EPS of $0.00 lags two-analyst estimate by $0.08 per share, if comparable. Revenue rises 32.6% over last year to $716.9, trailing Street views by around $20.9 mln.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Business , Commodities
Referenced Symbols: RH , ALN , HOV

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?