Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of energy service provider Wlllbros Group (NYSE: WG) gained as much as 25% today after being upgraded by an analyst.
So what: Analysts at Johnson Rice upgraded shares after a strong earnings report and the stock went crazy. The fiscal fourth quarter numbers were good earlier this week with sales jumping a whopping 58% to $573.1 million, way ahead of the consensus estimate of $485.7 million, and $0.09 in earnings per share topping estimates of $0.06.
Now what: The earnings report barely moved the stock yesterday, but an analyst sent volume to nearly four times its normal level today. I think the quarter was surprisingly good and shares look attractively priced going forward. I'm leery of buying on an analyst-induced jump, since they don't often last, but if shares pull back next week I think investors can ride them higher over the next year.
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