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Aggressive Growth

Jo-Ann Stores, Inc.

August 24, 2009 | Comments: 0
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CSC | EMS | JAS | BAGL | PCLN
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Jo-Ann Stores, Inc. (JAS - Snapshot Report)) analysts continue to raise estimates after solid sales growth in the second quarter.

Sales Increasing

On Aug 6 the company reported net sales for the second quarter of $419.4 million, up from $403 million. Same store sales increased 1.8% since last year, which is good, but the company saw a 3.3% increase last year.

Full second-quarter results are expected later this week.

Estimates Still Rising

Since I wrote about Jo-Ann stores last month the Zacks Consensus Estimate continues to climb. The average estimate for full-year 2009 is now $1.10, up from 99 cents. Forecasts for next year are averaging $1.37, up from $1.29.

Each analyst polled by Zacks has raised their projections in that time period. Given these estimates, year-over-year earnings growth is expected to be 44% this year and another 25% in 2010.

The Chart

After the double-bottom formation I highlighted last month, shares continued to climb. Now that it is about the previous level I expect that to act as support. However, keep a close eye on the stock as the MACD did cross to the bottom. Take a look below.

Read the July 17th Feature Here

Last Week's Aggressive Growth Zacks Rank Buy Stocks

Einstein Noah Restaurant Group (BAGL - Snapshot Report) continues to expand its footprint across America and just reported a sizable earnings surprise. Read Full Article.

Emergency Medical Services Corp. (EMS - Analyst Report) continues to set new highs after a solid quarterly report and analyst estimate revisions. Read Full Article.

Priceline.com Inc. (PCLN - Analyst Report) blew estimates away once again despite recent reports of slower consumer spending. Read Full Article.

Computer Sciences Corp. (CSC - Snapshot Report) easily beat Wall Street's expectations and share are setting new 52-week highs.

Read Full Article.


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Market Summary Feb 09, 2010 22:44 pm ET
DJIA 10058.64  150.25 1.52%
NASD 2150.87  24.82 1.17%
S&P 500 1070.52  13.78 1.30%