Can Kroger Stock Keep Climbing After Last Month's 25% Spike?
While they're increasingly shopping online for electronics and other home supplies, people aren't skipping their supermarket shopping trips. Kroger (NYSE: KR), one of the biggest industry players, just revealed accelerating sales growth and rising market share as part of its surprisingly strong third-quarter results.
The news helped send the stock 25% higher in the month of November (though it has trailed the market by a wide margin so far in 2017). Let's look at why investors might expect more gains ahead.
Kroger's comparable-store sales improved by 1.1% in the third quarter, and while that figure was below the 5% rate that shareholders witnessed as recently as late 2015, it was good news for two reasons. First, it marked the chain's third consecutive quarter of improving growth trends. Comps slipped into negative territory at the end of 2016, but they've now been positive for two straight quarters.
Source: Fool.com
Kroger Co. Stock
The stock is one of the favorites of our community with 26 Buy predictions and 1 Sell predictions.
As a result the target price of 55 € shows a slightly positive potential of 11.81% compared to the current price of 49.19 € for Kroger Co..
