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Performance Food (PFGC) Surges 3.8%: Is This an Indication of Further Gains?
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Performance Food Group (PFGC - Free Report) shares ended the last trading session 3.8% higher at $108.72. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.5% gain over the past four weeks.
Shares of Performance Food are gaining on optimism surrounding its potential strategic collaboration with US Foods. The companies have initiated an information-sharing process to explore regulatory considerations and synergies, fueling interest in a possible business combination.
This food distributor is expected to post quarterly earnings of $1.16 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $16.86 billion, up 9.4% 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 Performance Food, the consensus EPS estimate for the quarter has been revised 1.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PFGC going forward to see if this recent jump can turn into more strength down the road.
Performance Food is a member of the Zacks Food - Natural Foods Products industry. One other stock in the same industry, Sprouts Farmers (SFM - Free Report) , finished the last trading session 1.7% lower at $123.36. SFM has returned -14.8% over the past month.
Sprouts Farmers' consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $1.16. Compared to the company's year-ago EPS, this represents a change of +27.5%. Sprouts Farmers currently boasts a Zacks Rank of #2 (Buy).
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Performance Food (PFGC) Surges 3.8%: Is This an Indication of Further Gains?
Performance Food Group (PFGC - Free Report) shares ended the last trading session 3.8% higher at $108.72. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.5% gain over the past four weeks.
Shares of Performance Food are gaining on optimism surrounding its potential strategic collaboration with US Foods. The companies have initiated an information-sharing process to explore regulatory considerations and synergies, fueling interest in a possible business combination.
This food distributor is expected to post quarterly earnings of $1.16 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $16.86 billion, up 9.4% 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 Performance Food, the consensus EPS estimate for the quarter has been revised 1.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PFGC 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 >>>>
Performance Food is a member of the Zacks Food - Natural Foods Products industry. One other stock in the same industry, Sprouts Farmers (SFM - Free Report) , finished the last trading session 1.7% lower at $123.36. SFM has returned -14.8% over the past month.
Sprouts Farmers' consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $1.16. Compared to the company's year-ago EPS, this represents a change of +27.5%. Sprouts Farmers currently boasts a Zacks Rank of #2 (Buy).