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REV Group (REVG) Soars 9.8%: Is Further Upside Left in the Stock?

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REV Group (REVG) shares ended the last trading session 9.8% higher at $17.64. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 42.3% gain over the past four weeks.

This marks the company’s second consecutive day of price increase following its strong first-quarter fiscal 2021 results. The company reported earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.05. Moreover, quarterly revenues of $554 million surpassed the Zacks Consensus Estimate by 5.61%. Impressive performances of Fire & Emergency and Recreation segments, owing to strong backlog and order intake, drove results.

Price and Consensus

Price Consensus Chart for REV Group
Price Consensus Chart for REV Group

This company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +233.3%. Revenues are expected to be $569.5 million, up 4.1% 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 REV Group, 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 REVG 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 >>>>


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