Approach Resources (AREX)

[dan_s]

An updated profile has been posted under the Watch List Tab.

From Zacks Equity Research on March 24, 2014 on the topic of “High-Flying Growth Stocks”:

One such company that might be well-positioned for future earnings growth is Approach Resources, Inc. (AREX). This firm, which is in the Oil & Gas Exploration and Production industry, saw EPS growth of 318.2% last year, and is looking great for this year too.

In fact, the current growth estimate for this year calls for earnings-per-share growth of 71.4%. Furthermore, the long-term growth rate is currently an impressive 20.0% suggesting pretty good prospects for the long haul. And if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 5.9%. Thanks to this rise in earnings estimates, AREX has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company.

My Fair Value Estimate for AREX is $29.40/share
Compare to First Call’s Price Target of $26.00