Cabela's Shares Hit 52-Week High (CAB)

Shares of Cabela's Inc CAB are trading up 20.3% at $22 per share during the Tuesday afternoon trading session. The day's trading range for shares of Cabela's Inc has been between $19.16 and a 52-week high of $22.22 per share. Analysts covering the company's stock give it a consensus price target of $22 per share. Volume of 2.9 million shares is far above the daily average volume of 372,000 shares. Cabela's Inc (CAB) announced on Tuesday morning that it beat consensus Wall Street expectations. Cabela's Inc announced 3rd quarter earnings per share of 31 cents, on revenue of $643.25 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 28 cents per share, on revenue of $609.44 million. Chief executive officer Tommy Millner said, “We are focusing on improving merchandise gross margins, expanding retail operating margins and improving return on invested capital. In the third quarter, we were very pleased with the significant improvements in merchandise gross margins and retail operating margins, while managing working capital, which led to a 90 basis points improvement in return on invested capital.” Read more from Benzinga's Company news.