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The Shyft Group (SHYF) Surges 5.4%: Is This an Indication of Further Gains?
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The Shyft Group (SHYF - Free Report) shares soared 5.4% in the last trading session to close at $11.75. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3% loss over the past four weeks.
Shyft Group's shares surged yesterday, driven by investor optimism about the company's efforts to improve operational efficiency and financial performance. Additionally, confidence in the long-term potential of its core businesses and the Blue Arc EV truck might have contributed to the positive sentiment.
This maker of chassis for Last Mile Delivery, RVs and other vehicles is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -250%. Revenues are expected to be $183.9 million, down 24.5% 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 The Shyft Group, the consensus EPS estimate for the quarter has been revised 130% 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 SHYF going forward to see if this recent jump can turn into more strength down the road.
The Shyft Group is a member of the Zacks Automotive - Original Equipment industry. One other stock in the same industry, Dana (DAN - Free Report) , finished the last trading session 1% higher at $11.84. DAN has returned -13.3% over the past month.
Dana's consensus EPS estimate for the upcoming report has changed -54.7% over the past month to $0.12. Compared to the company's year-ago EPS, this represents a change of -52%. Dana currently boasts a Zacks Rank of #3 (Hold).
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The Shyft Group (SHYF) Surges 5.4%: Is This an Indication of Further Gains?
The Shyft Group (SHYF - Free Report) shares soared 5.4% in the last trading session to close at $11.75. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3% loss over the past four weeks.
Shyft Group's shares surged yesterday, driven by investor optimism about the company's efforts to improve operational efficiency and financial performance. Additionally, confidence in the long-term potential of its core businesses and the Blue Arc EV truck might have contributed to the positive sentiment.
This maker of chassis for Last Mile Delivery, RVs and other vehicles is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of -250%. Revenues are expected to be $183.9 million, down 24.5% 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 The Shyft Group, the consensus EPS estimate for the quarter has been revised 130% 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 SHYF 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 >>>>
The Shyft Group is a member of the Zacks Automotive - Original Equipment industry. One other stock in the same industry, Dana (DAN - Free Report) , finished the last trading session 1% higher at $11.84. DAN has returned -13.3% over the past month.
Dana's consensus EPS estimate for the upcoming report has changed -54.7% over the past month to $0.12. Compared to the company's year-ago EPS, this represents a change of -52%. Dana currently boasts a Zacks Rank of #3 (Hold).