- Oops!Something went wrong.Please try again later.
Lazy Days Holdings LAZY shares soared 5.2% in the last trading session to close at $21.35. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.4% loss over the past four weeks.
Shares of Lazydays jumped after the company posted solid preliminary results for second-quarter 2021. The company had reported solid adjusted EBITDA of more than $69 million during the first half of 2021, exceeding $59 million reported in 2020. Moreover, positive investor sentiments were witnessed as the company announced robust sales growth for June 2021. Unit sales in June 2021 increased 25% and 118% respectively, compared with 2020 and 2019 levels.
This company is expected to post quarterly earnings of $0.66 per share in its upcoming report, which represents a year-over-year change of +69.2%. Revenues are expected to be $271.9 million, up 27.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Lazy Days Holdings, 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 LAZY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
LAZYDAYS HOLDINGS, INC. (LAZY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research