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Fabrinet (FN) Surges: Stock Moves 15.5% Higher
Fabrinet (FN - Free Report) was a big mover last session, as the company saw its shares rise over 15% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $35.23 to $40.02 in the past one-month time frame.
The move came after the company apparently received a bullish analyst note and a target price increase from a Needham & Company analyst.
The company has seen two negative estimate revisions in the past two months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past two months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Fabrinet currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
Fabrinet Price and Consensus
Fabrinet Price and Consensus | Fabrinet Quote
A better-ranked stock in the Electronics - Miscellaneous Components industry is Universal Display Corporation (OLED - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is FN going up? Or down? Predict to see what others think: Up or Down
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