A key reason for this move has been the positive trend in the earnings estimate revisions picture. For DAVE’s full year estimate, we have seen 1 estimate go higher in the past 30 days, compared to no downward revision. This trend has helped the consensus estimate to trend higher, going from 98 cents a share a month ago to its current level at $1.00.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, DAVE has seen some pretty solid trading lately, as the company has moved higher by 45.8% in the past month.
If Famous Dave's of America can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put DAVE on your watch list for the future.
Other top-ranked stocks worth considering in this space include Buffalo Wild Wings Inc. (BWLD), Dunkin' Brands Group, Inc. (DNKN), and Brinker International, Inc. (EAT). All these carry a Zacks Rank #2 (Buy).
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