Earlier this month, Bob Evans (NASDAQ: BOBE) rallied on the heels of a very positive earnings report. The company said its profits improved by 31% on a slight decline in sales and improved cost savings.
More importantly, the company provided guidance that was above Wall Street estimates. Like most retailers, BOBE is experiencing softness in its business, but not a complete collapse as many expected.
As a result, the stock has more than doubled in value since bottoming in November of last year. Such a recovery provides a solid foundation for more gains.
Now, with improved guidance going forward, BOBE is ready to take off.
BOBE is rated a B or Buy in my Portfolio Grader stock-rating tool.
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