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Best Buy (BBY) Shows Strength: Stock Moves 6.4% Higher
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Best Buy Co., Inc. (BBY - Free Report) was a big mover last session, as the company saw its shares rise above 6% on the day. The upside was driven by the company’s better-than-expected earnings reported in the fourth quarter of 2016. Also, this led to far more shares changing hands than in a normal session. This shows a sharp pickup from the fall in Mar 1 and the overall volatility witnessed over the past one-month time frame.
The company has seen four positive estimate revisions in the past 30 days and its Zacks Consensus Estimate also moved higher over the same timeframe, suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday's jump can turn into more strength down the road.
Is BBY going up? Or down? Predict to see what others think: Up or Down
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Best Buy (BBY) Shows Strength: Stock Moves 6.4% Higher
Best Buy Co., Inc. (BBY - Free Report) was a big mover last session, as the company saw its shares rise above 6% on the day. The upside was driven by the company’s better-than-expected earnings reported in the fourth quarter of 2016. Also, this led to far more shares changing hands than in a normal session. This shows a sharp pickup from the fall in Mar 1 and the overall volatility witnessed over the past one-month time frame.
The company has seen four positive estimate revisions in the past 30 days and its Zacks Consensus Estimate also moved higher over the same timeframe, suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday's jump can turn into more strength down the road.
Best Buy currently holds a Zacks Rank #2 (Buy).
Best Buy Co., Inc. Price
Best Buy Co., Inc. Price | Best Buy Co., Inc. Quote
Another favorably ranked stock in the broader Retail space is Alibaba Group Holding Limited (BABA - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is BBY going up? Or down? Predict to see what others think: Up or Down
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>