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BJ's (BJ) Surges 6.3%: Is This an Indication of Further Gains?

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BJ's Wholesale Club BJ shares soared 6.3% in the last trading session to close at $65.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.4% gain over the past four weeks.

BJ's Wholesale Club continues to navigate through the challenging retail environment, courtesy of its strong customer value proposition and business model. Its relentless efforts to boost membership base, simplify assortments, enhance digital capabilities and accelerate club openings have been contributing to sales.

This wholesale membership warehouse operator is expected to post quarterly earnings of $0.80 per share in its upcoming report, which represents a year-over-year change of -2.4%. Revenues are expected to be $4.69 billion, up 12.3% 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 BJ's, 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 BJ 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 >>>>

BJ's is a member of the Zacks Consumer Services - Miscellaneous industry. One other stock in the same industry, Monro Muffler Brake MNRO, finished the last trading session 4.1% higher at $45.50. MNRO has returned -6.4% over the past month.

For Monro , the consensus EPS estimate for the upcoming report has changed +19.6% over the past month to $0.28. This represents a change of -49.1% from what the company reported a year ago. Monro currently has a Zacks Rank of #5 (Strong Sell).

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