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Surging Earnings Estimates Signal Good News for Accuride (ACW)

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Accuride Corp. , a manufacturer and supplier of commercial vehicle components, is a company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
 
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ACW’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Accuride could be a solid choice for investors.
 
Current Quarter Estimates for ACW
 
In the past 30 days, 1 estimate has gone higher for Accuride with no downward revision in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 4 cents per share 30 days ago, to a loss of 3 cents a share today, a move of 25%.
 
Current Year Estimates for ACW
 
Meanwhile, Accuride’s current year figures have seen 1 estimate moving higher in the past month, compared to no downward revision. However, the consensus estimate trend has remained flat over the same time frame, at break-even level.
 
Bottom Line    
 
The stock has also started to move higher lately, adding 24.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

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