Consumer Stocks Little Changed

Consumer stocks were narrowly mixed this afternoon, with shares of consumer staples companies in the S&P 500 slipping just over 0.1% in recent trading while shares of consumer discretionary firms in the S&P 500 were hanging on to a 0.1% gain. In company news, footwear seller Caleres (CAL) was enjoying a solid push higher on Tuesday, climbing as much as 4.5% to top out today at $28.31 a share after analysts at Susquehanna today raised their investment rating for the company’s stock to Positive from Neutral.

The upgrade follows the company late last week reporting above-consensus Q1 financial results and forecasting non-GAAP FY17 net income and sales matching Wall Street expectations. Excluding one-time items, the company earned $0.40 per share during the 13 weeks ended April 29, beating the Capital IQ consensus by $0.03 per share. Net sales increased 8% over the year-ago period to $631.5 million, also topping the analyst mean looking for $621.31 million.

Related posts

Leave a Comment