Ford Motor Company (F Quick QuoteF - Free Report) shares soared 11.7% in the last trading session to close at $24.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.3% gain over the past four weeks.

Ford’s shares rallied big yesterday after the automaker doubled its production goal for the Electric F-150 Lightning model. The company now plans to produce 150,000 such vehicles per year to cater to the surging demand of the electric-version of America’s best-selling truck.

This company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of +5.9%. Revenues are expected to be $36.37 billion, up 9.6% 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 Ford Motor Company, 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 F going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>