Susser Holdings Corp (SUSS) spiked into a new multi-year high in mid September in spite of the weak market. That movement is being fueled by a massive Q2 earnings beat and rising estimates, providing more support and momentum for this Zacks #1 Rank stock.
Susser Holdings Corp, together with its subsidiaries operates convenience stores and distributes motor fuels in Texas, New Mexico, Oklahoma and Louisiana. The company has a market cap of $364 million.
Susser's recent strength comes on the heels of strong Q2 results from August that came in well ahead of expectations.
Revenue for the period was up 35% from last year to $1.4 billion. Earnings also came in strong at $1.36, 157% ahead of the Zacks Consensus Estimate.
The good quarter was driven by a sharp increase in fuel revenue, up 42% from last year. Merchandise revenue was up a more modest 8.7%. Fuel margins also jumped to 31 cents from 25 cents last year.
We saw some very bullish movement in estimates off the good quarter, with the current year jumping 84% to $1.93.
With a forward P/E of 10.6X, SUSS trades in line with its peers.
On the chart, shares hit a new multi-year high in September before pulling back a bit with the market. But as it stands, shares are trading within 12% of the recent high. Take a look below.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Whisper Trader Service.