(GMCR) Green Mountain Coffee Roasters – Acquisition Efforts Continue
Green Mountain Coffee Roasters (GMCR) shares and estimates are up as the company heads into its next quarterly report on Apr 28.
Company Description
Green Mountain sells a wide variety of coffee blends commercially and direct to customers in addition to teas, hot cocoa, and Keurig brewing products. They are a socially responsible company headquartered in Vermont and have a market cap of more than $4 billion.
Estimates Continue to Climb
Since Mike Vodicka originally featured Green Mountain in February, shares and estimates have continued their bullish trend.
The Zacks Consensus Estimate for fiscal 2010 is up 5 cents to $2.04, which is a 77% growth rate. Forecasts for fiscal 2011 are averaging $2.89, up 21 cents.
Acquisition Efforts Continue
Green Mountain extended its tender offer for a third time to complete the take over of Diedrich Coffee. The 20-day extension came on Apr 6 and remains for $35 per share.
The Chart
Shares traded sideways throughout February, but managed to keep the trend alive with by surging in early March. GMCR is once again resting on that trend, so this week will determine if the momentum can continue.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Surprise Trader Service.
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