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Why Grocery Outlet (GO) Could Be Positioned for a Surge
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Grocery Outlet Holding Corp. (GO - Free Report) is a high-growth, extreme value retailer 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, two 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 17 cents a share 30 days ago, to 23 cents today, a move of 35.3%.
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 81 cents per share 30 days ago to 89 cents today, an increase of 9.8%.
The stock has also started to move higher lately, adding 12.7% 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 #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Why Grocery Outlet (GO) Could Be Positioned for a Surge
Grocery Outlet Holding Corp. (GO - Free Report) is a high-growth, extreme value retailer 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, two 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 17 cents a share 30 days ago, to 23 cents today, a move of 35.3%.
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 81 cents per share 30 days ago to 89 cents today, an increase of 9.8%.
Grocery Outlet Holding Corp. Price and Consensus
Grocery Outlet Holding Corp. price-consensus-chart | Grocery Outlet Holding Corp. Quote
Bottom Line
The stock has also started to move higher lately, adding 12.7% 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 #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>