Five Below Sharply Higher After Q4 Beat

Five Below Inc FIVE shares are trading higher by $4.00 (11 percent) at $42.13 in Thursday's session.

The catalyst for the rally is a Q4 EPS beat of a penny along with slight beat for sales. The company forecasts FY 2017 EPS to be close to Wall Street estimates and sales to come in a bit higher than the estimate of $1.21 billion, in the $1.21-$1.23 billion range.

The report has taken Five Below's stock out of its trading range that has persisted since January 20, from $37.14 to $40.42. After a much higher open, it retreated and found support at the top of the aforementioned range at $40.40 and continued its move higher.

So far, the continuation rally has taken the stock to $42.45. That level coincides with its January 17 high of $42.62, as well as its December 12 high of $42.78.