Kroger (KR) Surges: Why It Still Has Room to Run?
One company that should be on your radar is The Kroger Co. (KR). The stock of this retailer has seen its Zacks Rank surge over the past four weeks, moving from Sell to its current position as a Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For KR’s full year estimate, we have seen 10 estimates go higher in the past 30 days, and there has been no downward revision over the same time frame. This trend has helped the consensus estimate to trend higher, going from $3.12 a share a month ago to its current level at $3.21.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, KR has seen some pretty solid trading lately, as the company has moved higher by 18.8% in the past month.
If Kroger can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put KR on your watch list for the future.
Other top-ranked stocks worth considering in this space include Spartan Stores Inc. (SPTN), Advance Auto Parts Inc. (AAP) and Barnes & Noble, Inc. (BKS). All these carry a Zacks Rank #1 (Strong Buy).
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SPARTAN STORES INC (SPTN): Free Stock Analysis Report
KROGER CO (KR): Free Stock Analysis Report
ADVANCE AUTO PARTS INC (AAP): Free Stock Analysis Report
BARNES & NOBLE INC (BKS): Free Stock Analysis Report
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