One company that should be on your radar is Resolute Forest Products Inc. ( RFP ). The stock of this Paper and Related Products industry has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For RFP's full year estimate, we have seen one 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 94 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, RFP has seen some pretty solid trading lately, as the company has moved higher by 15.9% in the past month.
If Resolute Forest Products 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 RFP on your watch list for the future.
Other better-ranked stocks worth considering in this space include PH Glatfelter Co. ( GLT ), Rexam plc ( REXMY ) and Svenska Cellulosa Aktiebolaget SCA (publ) ( SVCBY ). All these carry a Zacks Rank #2 (Buy).