Stock Story -
What Happened?
Shares of speciality material and gas containment company Luxfer (NYSE:LXFR) jumped 16.5% in the afternoon session after the company reported a "beat and raise" quarter. Third-quarter earnings blew past analysts' revenue, EBITDA, and EPS expectations. The results benefited from improved pricing and volume, with some customers fast-tracking their orders from the fourth quarter due to concerns about hurricanes and port strikes. Moving on, the company raised full-year EPS and EBITDA guidance. Zooming out, we think this was a solid quarter.Is now the time to buy Luxfer? Find out by reading the original article on StockStory, it’s free.
What The Market Is Telling Us
Luxfer’s shares are somewhat volatile and have had 11 moves greater than 5% over the last year. But moves this big are rare even for Luxfer and indicate this news significantly impacted the market’s perception of the business.Luxfer is up 69.9% since the beginning of the year, and at $15.10 per share, has set a new 52-week high. Investors who bought $1,000 worth of Luxfer’s shares 5 years ago would now be looking at an investment worth $883.56.