Tredegar Corp.

Tredegar Corp. (TG - Snapshot Report) recently shocked Wall Street with its latest earnings report. Shares are climbing as the stock hits a critical level.

Company Description

Tredegar Industries, Inc. is engaged in the manufacturing of plastic films, vinyl extrusions and aluminum extrusions. The company also has interests in various technologies, including rational drug design research and computer software.

Tredegar's materials are primarily for personal and household care products, and packaging and surface protection applications. The company has operations in North America, South America, Europe, and Asia.

EPS Almost Double Consensus

On Feb 12 Tredegar announced its forth-quarter results that included earnings per share of 30 cents, nearly double the 16 cents estimated by analysts.

Income from continuing manufacturing operations was up $10.2 million, up 62% from $6.3 million.

Estimates Are Up

Full-year estimates rose following the most recent earnings report. The consensus for 2009 is now 83 cents up from 74 cents. Estimates for next year are averaging 78 cents, up from 73 cents.

The Chart

Shares of TG have some short-term momentum building as they approach resistance just above $18. Take a look at the chart below.