Cimpress (CMPR) Soars 11.7%: Is Further Upside Left in the Stock?
Cimpress (CMPR) shares soared 11.7% in the last trading session to close at $69.88. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.1% loss over the past four weeks.
The stock surged primarily on optimism surrounding improving supply chains, and a reduction in raw material costs due to deceleration in inflation.
This marketing materials maker is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of +76.3%. Revenues are expected to be $768.67 million, up 9.3% 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 Cimpress, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CMPR 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 >>>>
Cimpress belongs to the Zacks Consumer Services - Miscellaneous industry. Another stock from the same industry, Monro Muffler Brake (MNRO), closed the last trading session 0.7% higher at $30.27. Over the past month, MNRO has returned -12.8%.
For Monro , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.39. This represents a change of -9.3% from what the company reported a year ago. Monro currently has a Zacks Rank of #5 (Strong Sell).
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Cimpress plc (CMPR) : Free Stock Analysis Report
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