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Strength Seen in Flexsteel (FLXS): Can Its 6.8% Jump Turn into More Strength?
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Flexsteel Industries (FLXS - Free Report) shares rallied 6.8% in the last trading session to close at $41.31. 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 8.3% gain over the past four weeks.
Flexsteel's rally is buoyed by optimism regarding the company's marketing efforts and strategies to generate demand alongside a robust portfolio of modern products offered at competitive price points. Moreover, the expansion of sales channels is adding to the positives. The company prioritizes the introduction of novel products and employs product life cycle management to enhance profitability. It capitalizes on cost-saving measures and value engineering to consistently unveil new products with improved margin profiles compared with discontinued products.
This furniture maker is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $102.12 million, up 3.1% 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 Flexsteel, 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 FLXS going forward to see if this recent jump can turn into more strength down the road.
Flexsteel belongs to the Zacks Furniture industry. Another stock from the same industry, Hooker Furniture (HOFT - Free Report) , closed the last trading session 1.8% lower at $23.22. Over the past month, HOFT has returned -1.8%.
Hooker Furniture's consensus EPS estimate for the upcoming report has changed -41.6% over the past month to $0.10. Compared to the company's year-ago EPS, this represents a change of -23.1%. Hooker Furniture currently boasts a Zacks Rank of #5 (Strong Sell).
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Strength Seen in Flexsteel (FLXS): Can Its 6.8% Jump Turn into More Strength?
Flexsteel Industries (FLXS - Free Report) shares rallied 6.8% in the last trading session to close at $41.31. 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 8.3% gain over the past four weeks.
Flexsteel's rally is buoyed by optimism regarding the company's marketing efforts and strategies to generate demand alongside a robust portfolio of modern products offered at competitive price points. Moreover, the expansion of sales channels is adding to the positives. The company prioritizes the introduction of novel products and employs product life cycle management to enhance profitability. It capitalizes on cost-saving measures and value engineering to consistently unveil new products with improved margin profiles compared with discontinued products.
This furniture maker is expected to post quarterly earnings of $0.56 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $102.12 million, up 3.1% 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 Flexsteel, 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 FLXS 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 >>>>
Flexsteel belongs to the Zacks Furniture industry. Another stock from the same industry, Hooker Furniture (HOFT - Free Report) , closed the last trading session 1.8% lower at $23.22. Over the past month, HOFT has returned -1.8%.
Hooker Furniture's consensus EPS estimate for the upcoming report has changed -41.6% over the past month to $0.10. Compared to the company's year-ago EPS, this represents a change of -23.1%. Hooker Furniture currently boasts a Zacks Rank of #5 (Strong Sell).