Herc Holdings (HRI Quick QuoteHRI - Free Report) shares rallied 6.9% in the last trading session to close at $109.60. 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 35.6% gain over the past four weeks.

The upside was driven by the company’s improved top line following gradual reopening of the economy in the United States. The company is also being aided by its efforts to control costs.



Price and Consensus

This equipment rental supplier is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +375%. Revenues are expected to be $421.85 million, down 3.3% 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 Herc Holdings, the consensus EPS estimate for the quarter has been revised 15.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on HRI 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 >>>>