Top Consumer Stocks

WMT +0.25%

MCD +1.11%

DIS +0.02%

CVS +0.16%

KO +0.36%

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.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

Source link