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Why Grocery Outlet (GO) Could Be Positioned for a Surge
Grocery Outlet Holding Corp. (GO - Free Report) is a U.S. based retailer that owns and operates a chain of grocery stores that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on GO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Grocery Outlet could be a solid choice for investors.
Current Quarter Estimates for GO
In the past 30 days, three estimates have gone higher for Grocery Outlet while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 17cents a share 30 days ago, to 18 cents today, a move of 5.9%.
Current Year Estimates for GO
Meanwhile, Grocery Outlet’s current year figures are also looking quite promising, with five estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 59 cents per share 30 days ago to 70 cents per share today, an increase of 18.6%.
Grocery Outlet Holding Corp. Price and Consensus
Grocery Outlet Holding Corp. price-consensus-chart | Grocery Outlet Holding Corp. Quote
The stock has also started to move higher lately, adding 5.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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