Analysts Offer Insights on Consumer Goods Companies: Immersion Corp (NASDAQ: IMMR) and Select Interior Concepts Inc (NASDAQ: SIC)

By Ryan Adsit

Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Immersion Corp (IMMRResearch Report) and Select Interior Concepts Inc (SICResearch Report).

Immersion Corp (IMMR)

B.Riley FBR analyst Josh Nichols maintained a Hold rating on Immersion Corp yesterday and set a price target of $9.50. The company’s shares closed on Friday at $10.39.

Nichols noted:

“We remain on the sidelines at this juncture given the high risk/reward proposition associated with the trial and limited visibility. That said, we acknowledge that the company has historically been successful in monetizing its IP over time. We believe it is critical that management secures a license from the handset giant that is commensurate with Immersion’s IP and the increasing use of haptics throughout the marketplace, as this could be the last large enterprise license opportunity for some time. Admittedly, shares could rally (possibly quite significantly) on the back of a license deal announcement, and the probabilities of a settlement typically increase as trial approaches.”

According to TipRanks.com, Nichols is a 4-star analyst with an average return of 14.3% and a 43.3% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Horizon Global.

Currently, the analyst consensus on Immersion Corp is a Hold with an average price target of $9.50.

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Select Interior Concepts Inc (SIC)

B.Riley FBR analyst Alex Rygiel reiterated a Buy rating on Select Interior Concepts Inc today and set a price target of $17. The company’s shares closed on Friday at $13.02.

Rygiel commented:

“On the morning of 5/10, Select Interior Concepts (SIC) announced 1Q19 results, which included better-than-expected revenue and in-line adjusted EBITDA, relative to our estimates. Results – Reiterate Buy details. The company continues to make good progress on recently acquired companies, greenfield ASG markets, cross-selling of products across both platforms, and focusing on higher-margin products. 1Q results were solid, relative to expectations, and we expect improving results moving forward as growth in homebuilder orders in 1Q19 translate into more home completions in the coming quarters. We are modestly raising our 2019 and 2020 revenue estimates and leaving adj. EBITDA mostly unchanged. We reiterate our Buy rating and raise our price target, from $16 to $17.”

According to TipRanks.com, Rygiel is a 4-star analyst with an average return of 7.0% and a 56.4% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Tutor Perini Corp, and Quanta Services.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Select Interior Concepts Inc with a $16 average price target.

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