Taubman Centers, Inc. (TCO) was a big mover last session, as the company saw its shares rise 6% on the day. Shares gained on the news of the company’s second-quarter funds from operations beating Street estimates. The news led to far more shares changing hands than in a normal session resulting in solid volume. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $70.02 to $71.79 in the past one-month time frame.
The company has seen one positive revision in the past one month, while its Zacks Consensus Estimate moved higher over the same time frame, suggesting that more solid trading could be ahead for this stock. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Taubman Centers currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the retail industry is Acadia Realty Trust (AKR), sporting a Zacks Rank #1 (Strong Buy).
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