Bassett Furniture Industries, Incorporated (BSET Quick QuoteBSET - Free Report) shares ended the last trading session 11% higher at $24.61. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.9% gain over the past four weeks.

The jump in the share price was probably due to encouraging wholesale orders for first-quarter fiscal 2021. The company's wholesale orders for the quarter (that ended on Feb 27) totaled $83 million, reflecting a 44% year-over-year increase. Bassett also announced that it is in lease negotiations for a 123K sq. ft manufacturing facility in Newton, North Carolina to increase upholstery manufacturing capacity.

Price and Consensus

This furniture seller is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $112.71 million, up 0.5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Bassett, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BSET going forward to see if this recent jump can turn into more strength down the road.

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