Oxford Industries (OXM) Surges 7.5%: Is This an Indication of Further Gains?

Oxford Industries (OXM) shares rallied 7.5% in the last trading session to close at $60.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 22.9% loss over the past four weeks.Oxford Industries’ shares have been gaining on the optimism surrounding improving consumer sentiment and new product launches. OXM is prioritizing expense control and operational improvements, which is helping in stabilizing margins.This owner of the Tommy Bahama, Lilly Pulitzer and Southern Tide clothing lines is expected to post quarterly earnings of $1.28 per share in its upcoming report, which represents a year-over-year change of -32.6%. Revenues are expected to be $385.7 million, down 4.6% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Oxford Industries, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OXM going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Oxford Industries is part of the Zacks Textile - Apparel industry. PVH (PVH), another stock in the same industry, closed the last trading session 2.4% higher at $65.37. PVH has returned -17.9% in the past month.PVH's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $3.19. Compared to the company's year-ago EPS, this represents a change of -14.3%. PVH currently boasts a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oxford Industries, Inc. (OXM): Free Stock Analysis Report PVH Corp. (PVH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks