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


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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.

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



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