Here's Why Vita Coco Company, Inc. (COCO) Gained But Lagged the Market Today
In the latest trading session, Vita Coco Company, Inc. (COCO) closed at $28.83, marking a +1.37% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.7%. On the other hand, the Dow registered a gain of 1.26%, and the technology-centric Nasdaq increased by 2.51%.
Shares of the company witnessed a gain of 12.19% over the previous month, beating the performance of the Consumer Staples sector with its gain of 2.99% and the S&P 500's gain of 1.27%.
The investment community will be closely monitoring the performance of Vita Coco Company, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at $0.28, signifying a 7.69% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $141.8 million, up 2.71% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.95 per share and a revenue of $509.61 million, representing changes of +28.38% and +3.24%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Vita Coco Company, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.52% fall in the Zacks Consensus EPS estimate. Currently, Vita Coco Company, Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Vita Coco Company, Inc. is presently being traded at a Forward P/E ratio of 29.86. This expresses a premium compared to the average Forward P/E of 19.48 of its industry.
One should further note that COCO currently holds a PEG ratio of 2.49. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Beverages - Soft drinks industry was having an average PEG ratio of 2.92.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 171, this industry ranks in the bottom 33% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Vita Coco Company, Inc. (COCO) : Free Stock Analysis Report