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Strength Seen in Universal Truckload (ULH): Can Its 9% Jump Turn into More Strength?
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Universal Logistics (ULH - Free Report) shares rallied 9% in the last trading session to close at $28.32. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.6% loss over the past four weeks.
Optimism surrounding healthy freight demand and higher trucking rates primarily drove the stock higher.
This trucking and logistics company is expected to post quarterly earnings of $1.16 per share in its upcoming report, which represents a year-over-year change of +48.7%. Revenues are expected to be $487.8 million, up 15.4% 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 Universal Truckload, 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 ULH going forward to see if this recent jump can turn into more strength down the road.
Universal Truckload is a member of the Zacks Transportation - Services industry. One other stock in the same industry, Yellow Corporation , finished the last trading session 7.5% higher at $3.44. YELL has returned -15.3% over the past month.
For YRC, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.35. This represents a change of +294.4% from what the company reported a year ago. YRC currently has a Zacks Rank of #3 (Hold).
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Strength Seen in Universal Truckload (ULH): Can Its 9% Jump Turn into More Strength?
Universal Logistics (ULH - Free Report) shares rallied 9% in the last trading session to close at $28.32. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.6% loss over the past four weeks.
Optimism surrounding healthy freight demand and higher trucking rates primarily drove the stock higher.
This trucking and logistics company is expected to post quarterly earnings of $1.16 per share in its upcoming report, which represents a year-over-year change of +48.7%. Revenues are expected to be $487.8 million, up 15.4% 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 Universal Truckload, 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 ULH 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 >>>>
Universal Truckload is a member of the Zacks Transportation - Services industry. One other stock in the same industry, Yellow Corporation , finished the last trading session 7.5% higher at $3.44. YELL has returned -15.3% over the past month.
For YRC, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.35. This represents a change of +294.4% from what the company reported a year ago. YRC currently has a Zacks Rank of #3 (Hold).