Markets

Sector Update: Consumer

Consumer stocks were mixed today with shares of consumer staples companies in the S&P 500 slipping about 0.2%. Shares of consumer discretionary firms in the S&P 500 were ahead about 0.4%.

In company news, TripAdvisor ( TRIP ) shares rose Monday after the travel website received an upgrade to Outperform from Sector perform at Pacific Crest, which also raised its price target for the stock to $116 a share, citing an "accelerating growth story."

In a new research note, Pacific Crest analyst Chad Bartley said 25% to 30% revenue and EPS growth is possible, explaining he has "more confidence that increasing conversion and pricing, the introduction of mobile bookings, brand advertising and longer-term monetization opportunities outside of hotels can drive upside."

Revenue has grown has risen between 20% to 26% year over year during each of the past six quarters although per-share earnings have slipped compared to year-ago levels during two of those quarters.

TRIP shares were up slightly less than 1% at $97.82 apiece shortly before the closing bell Monday afternoon, earlier climbing almost 3% to a session high of $100 a share. The stock has a 52-week range of $58.74 to $109.79 a share, adding slightly more than 51.5% in value over the past 12 months.

In other sector news,

(+) EVRY, Enters into forbearance pact with lenders under its term loan agreement. Also amends is asset-backed loan facility and announces plans to partially reopen its facility in Monaca, Pa., which has been closed since May 15.

(-) ACAT, CEO and Board Chairman Claude Jordan steps down and will be replaced on an interim basis by former CEO Chris Twomey. Reiterates in-line FY15 EPS, revenue guidance. R.W. Baird downgrade to Neutral from Outperform.

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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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