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Coffee Stock #2 – Diedrich Coffee Inc. (DDRX)
Talk about piping hot, how about Diedrich Coffee, Inc. (DDRX)? The company’s shares have been steaming
higher for quite awhile now, racing up a stunning 17,000% in the last year from about 20 cents per share at this time in 2009 to $35 today.Last summer, the roaster and wholesaler of fine coffees was added to the small-cap Russell 2000 Index. Making into the Russell 2000 means many indexed ETFs and mutual funds had to put DDRX shares in their portfolio. But it’s not just the inclusion of DDRX into the Russell 2000 that makes it worth pouring into your portfolio. The company then saw shares explode after a buyout battle ensued between rival coffee companies.
Last quarter, Diedrich reported earnings of 30 cents per share, which was right on target with estimates. But looking forward, the company is seeing some positive revisions that look like a big earnings surprise is in the works. I like that momentum.
I rate DDRX an A or strong buy.
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