Why Accuride Corp. (ACW) Could Be Positioned for a Surge?

Zacks Equity Research
May 12, 2014

Accuride Corp. (ACW), a commercial vehicle components manufacturer, 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 ACW’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 Accuride Corp. could be a solid choice for investors.

 

Current Quarter Estimates for ACW

 

In the past 30 days, 2 estimates have gone higher for Accuride Corp. while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 9 cents a share 30 days ago, to break-even today.

 

Current Year Estimates for ACW

 

Meanwhile, Accuride Corp.’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none moving lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 34 cents per share 30 days ago to a loss of 18 cents per share today.

 

Bottom Line

 

The stock has also started to move higher lately, adding 14.0% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

 

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