Top Consumer Stocks
Consumer stocks were declining this afternoon, with shares of consumer staples companies in the S&P 500 down about 0.4%. Shares of consumer discretionary firms in the S&P 500 slid about 0.3%.
In company news, Angie's List Inc. ( ANGI ) climbed more than 5% Wednesday after Wunderlich Securities raised the consumer-advisory company to Buy from Hold while reiterating its price target of $15 a share.
In a new research note, analyst Blake Harper cites new sales productivity as well as improved traction in the ecommerce marketplace and ANGI's rollout of tiered pricing in all of its markets for his upgrade.
"We are also encouraged by the company's plans to focus on deeper content within vertical segments, providing more end-to-end 'concierge' solutions with its ecommerce deals and opening them up to non-members," he wrote.
ANGI shares were ahead almost 5.6% at $12.13 apiece in recent trade, maintaining a perch within 11 cents of its session high. The stock has a 52-week range of $9.60 to $28.32 a share, declining over 53% in value over the past 12 months.
In other sector news,
(+) ULTA, (+14.8%) Q1 EPS of $0.77 beats by $0.03 per share. Revenue rises 22.5% year over year to $713.8 mln, topping consensus view by $13.86 mln. Sees Q2 revenue of $706 mln to $717 mln, exceeding estimates by at least $3 mln.
(-) UNFI, (-8.6%) Narrows FY14 profit outlook to a new range of $2.47 to $2.50 per share, trailing consensus view by at least $0.01. Earns $0.73 per share in Q3, up from $0.64 per share last year and matching analyst estimates. Sales rise 13.3%.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.