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Stanley Black (SWK) Surges 6.5%: Is This an Indication of Further Gains?
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Stanley Black & Decker (SWK - Free Report) shares soared 6.5% in the last trading session to close at $95.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10% gain over the past four weeks.
Stanley Black’s rally is primarily driven by optimism about the strong momentum in its Engineered Fastening business. Strength across the company’s aerospace and automotive end markets, along with the growing popularity for home and outdoor products, bode well.
This tool company is expected to post quarterly earnings of $0.85 per share in its upcoming report, which represents a year-over-year change of +872.7%. Revenues are expected to be $4.01 billion, down 3.6% 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 Stanley Black & Decker, the consensus EPS estimate for the quarter has been revised 1.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SWK going forward to see if this recent jump can turn into more strength down the road.
Stanley Black & Decker is part of the Zacks Manufacturing - Tools & Related Products industry. Lincoln Electric Holdings (LECO - Free Report) , another stock in the same industry, closed the last trading session 1.9% higher at $210.36. LECO has returned 10.4% in the past month.
Lincoln Electric's consensus EPS estimate for the upcoming report has changed -3% over the past month to $2.30. Compared to the company's year-ago EPS, this represents a change of -5.7%. Lincoln Electric currently boasts a Zacks Rank of #4 (Sell).
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Stanley Black (SWK) Surges 6.5%: Is This an Indication of Further Gains?
Stanley Black & Decker (SWK - Free Report) shares soared 6.5% in the last trading session to close at $95.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10% gain over the past four weeks.
Stanley Black’s rally is primarily driven by optimism about the strong momentum in its Engineered Fastening business. Strength across the company’s aerospace and automotive end markets, along with the growing popularity for home and outdoor products, bode well.
This tool company is expected to post quarterly earnings of $0.85 per share in its upcoming report, which represents a year-over-year change of +872.7%. Revenues are expected to be $4.01 billion, down 3.6% 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 Stanley Black & Decker, the consensus EPS estimate for the quarter has been revised 1.9% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SWK 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 >>>>
Stanley Black & Decker is part of the Zacks Manufacturing - Tools & Related Products industry. Lincoln Electric Holdings (LECO - Free Report) , another stock in the same industry, closed the last trading session 1.9% higher at $210.36. LECO has returned 10.4% in the past month.
Lincoln Electric's consensus EPS estimate for the upcoming report has changed -3% over the past month to $2.30. Compared to the company's year-ago EPS, this represents a change of -5.7%. Lincoln Electric currently boasts a Zacks Rank of #4 (Sell).