JELD-WEN Holding, Inc. (JELD Quick QuoteJELD - Free Report) shares rallied 7.7% in the last trading session to close at $27.72. 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 6.9% loss over the past four weeks.

The stock has most probably rallied, given the optimism surrounding solid housing market momentum. Strong housing fundamentals for North America residential new construction, encouraging European markets and a stabilizing residential new construction market in Australasia are expected to drive growth.

Price and Consensus

This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +38.5%. Revenues are expected to be $1.03 billion, up 4.9% 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 JELD-WEN, the consensus EPS estimate for the quarter has been revised 13.6% 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 JELD going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>