Fabrinet (FN) Surges: Stock Moves 15.5% Higher

By Zacks Investment ResearchStock MarketsJun 27, 2017 08:42AM ET

www.investing.com/analysis/gbpusd-ahead-of-inflation-release-200197749

Fabrinet (FN) Surges: Stock Moves 15.5% Higher

By Zacks Investment Research | Jun 27, 2017 08:42AM ET

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Fabrinet (NYSE:FN) was a big mover last session, as the company saw its shares rise over 15% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $35.23 to $40.02 in the past one-month time frame.

The move came after the company apparently received a bullish analyst note and a target price increase from a Needham & Company analyst.

The company has seen two negative estimate revisions in the past two months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past two months, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Fabrinet currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.

Fabrinet Price and Consensus

Fabrinet Price and Consensus | Fabrinet Quote

A better-ranked stock in the Electronics - Miscellaneous Components industry is Universal Display Corporation (NASDAQ:OLED) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is FN going up? Or down? Predict to see what others think: Up or Down

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Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These are sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500.

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Fabrinet (FN): Free Stock Analysis Report

Universal Display Corporation (OLED): Free Stock Analysis Report

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Fabrinet (FN) Surges: Stock Moves 15.5% Higher

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