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Strength Seen in Performance Food (PFGC): Can Its 5.6% Jump Turn into More Strength?
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Performance Food Group (PFGC - Free Report) shares rallied 5.6% in the last trading session to close at $59.89. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.8% loss over the past four weeks.
Shares of Performance Food are gaining on optimism surrounding its foodservice business. The company continues to capture market share in independent restaurants along with operational improvements in the Foodservice business. Momentum in PFGC’s Vistar and Convenience business segment bodes well.
This food distributor is expected to post quarterly earnings of $0.71 per share in its upcoming report, which represents a year-over-year change of +24.6%. Revenues are expected to be $13.93 billion, up 8.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Performance Food, the consensus EPS estimate for the quarter has been revised 2.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PFGC going forward to see if this recent jump can turn into more strength down the road.
Performance Food is part of the Zacks Food - Natural Foods Products industry. Farmer Brothers (FARM - Free Report) , another stock in the same industry, closed the last trading session 5.3% higher at $4.74. FARM has returned -13.8% in the past month.
Farmer Brothers' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.56. Compared to the company's year-ago EPS, this represents a change of -80.7%. Farmer Brothers currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in Performance Food (PFGC): Can Its 5.6% Jump Turn into More Strength?
Performance Food Group (PFGC - Free Report) shares rallied 5.6% in the last trading session to close at $59.89. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.8% loss over the past four weeks.
Shares of Performance Food are gaining on optimism surrounding its foodservice business. The company continues to capture market share in independent restaurants along with operational improvements in the Foodservice business. Momentum in PFGC’s Vistar and Convenience business segment bodes well.
This food distributor is expected to post quarterly earnings of $0.71 per share in its upcoming report, which represents a year-over-year change of +24.6%. Revenues are expected to be $13.93 billion, up 8.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Performance Food, the consensus EPS estimate for the quarter has been revised 2.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PFGC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Performance Food is part of the Zacks Food - Natural Foods Products industry. Farmer Brothers (FARM - Free Report) , another stock in the same industry, closed the last trading session 5.3% higher at $4.74. FARM has returned -13.8% in the past month.
Farmer Brothers' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.56. Compared to the company's year-ago EPS, this represents a change of -80.7%. Farmer Brothers currently boasts a Zacks Rank of #4 (Sell).