Top Consumer Stocks
Consumer stocks were finishing with moderate gains this afternoon, with shares of consumer staples companies in the S&P 500 adding about 0.7% in value today while shares of consumer discretionary firms in the S&P 500 were advancing almost 0.6%.
In company news, Malibu Boats ( MBUU ) sped to a 7% advance on Monday, topping out at $27.99 a share after analysts at BMO Capital raised their stock recommendation for the performance sportcraft manufacturer to Outperform from Market Perform, also increasing their price target for the company’s stock by $3 to $32 a share.
The upgrade follows the company late last week reporting adjusted fiscal Q4 net income of $0.43 per share, up from $0.38 per share during the same quarter last year and beating the Capital IQ consensus by $0.04 per share. Revenue during the three months ended June 30 grew 12.6% over year-ago levels to $75.1 million. also exceeding the $73.4 million consensus call.
In other sector news,
(+) NVFY, Citing strong customer demand, generates a record $1 mln profit during each of its summer months of June, July and August.
(-) GRPN, Board chairman and company co-founder Eric Lefkofsky last week sells 1.5 mln shares through a pair of transactions of 750,000 shares each. pocketing about $6.59 mln in gross proceeds. Following the sale, he still owns almost 92.4 mln shares through a family investment vehicle.
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