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Academy Sports and Outdoors, Inc. (ASO) Moves 8.7% Higher: Will This Strength Last?
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Academy Sports and Outdoors, Inc. (ASO - Free Report) shares rallied 8.7% in the last trading session to close at $34.42. 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 13.2% loss over the past four weeks.
Positive investor sentiments were witnessed on the news of its addition in the S&P SmallCap 600 index with effect from Mar 16, 2022. The company will be replacing Kraton from the index.
This company is expected to post quarterly earnings of $1.29 per share in its upcoming report, which represents a year-over-year change of +18.4%. Revenues are expected to be $1.75 billion, up 9.7% 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 Academy Sports and Outdoors, Inc., 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 ASO going forward to see if this recent jump can turn into more strength down the road.
Academy Sports and Outdoors, Inc. is a member of the Zacks Leisure and Recreation Products industry. One other stock in the same industry, Acushnet (GOLF - Free Report) , finished the last trading session 0.6% higher at $42.29. GOLF has returned -4.9% over the past month.
For Acushnet, the consensus EPS estimate for the upcoming report has changed -2.6% over the past month to $0.84. This represents a change of -25.7% from what the company reported a year ago. Acushnet currently has a Zacks Rank of #3 (Hold).
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Academy Sports and Outdoors, Inc. (ASO) Moves 8.7% Higher: Will This Strength Last?
Academy Sports and Outdoors, Inc. (ASO - Free Report) shares rallied 8.7% in the last trading session to close at $34.42. 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 13.2% loss over the past four weeks.
Positive investor sentiments were witnessed on the news of its addition in the S&P SmallCap 600 index with effect from Mar 16, 2022. The company will be replacing Kraton from the index.
This company is expected to post quarterly earnings of $1.29 per share in its upcoming report, which represents a year-over-year change of +18.4%. Revenues are expected to be $1.75 billion, up 9.7% 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 Academy Sports and Outdoors, Inc., 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 ASO 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 >>>>
Academy Sports and Outdoors, Inc. is a member of the Zacks Leisure and Recreation Products industry. One other stock in the same industry, Acushnet (GOLF - Free Report) , finished the last trading session 0.6% higher at $42.29. GOLF has returned -4.9% over the past month.
For Acushnet, the consensus EPS estimate for the upcoming report has changed -2.6% over the past month to $0.84. This represents a change of -25.7% from what the company reported a year ago. Acushnet currently has a Zacks Rank of #3 (Hold).