Shares of Zale Corporation (ZLC) increased 43 percent to $5.76 after breaking earlier above the recent 52-wk range highs of $5.08. The equity has already quadrupled from 52-week lows and the stock is up almost 28% from the peak of the panic selling during July 2010.
Volume has exploded with more than 9.3 million ZLC shares already trading hands compared to a daily average volume of just 932,000. The day’s range so far for shares of Zale Corporation, which closed at $4.03 in the previous trading session and opened today at $4.54, has been between $4.50 and a 52-week high of $5.80 per share.
The average pps target of analysts who cover Zale Corp. is $2.50 per share. The company has a market cap of $184 million and a P/E (price-to-earnings ratio) of (0.18).
At last check, ZLC shares were up $1.73, or 42.93%, to $5.76.