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Align Technology (ALGN) Stock Sinks As Market Gains: What You Should Know
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Align Technology (ALGN - Free Report) closed the most recent trading day at $269.01, moving -1.68% from the previous trading session. This change lagged the S&P 500's 0.31% gain on the day. Elsewhere, the Dow gained 0.05%, while the tech-heavy Nasdaq added 0.14%.
Coming into today, shares of the maker of the Invisalign tooth-straightening system had lost 2.43% in the past month. In that same time, the Medical sector lost 0.97%, while the S&P 500 lost 1.38%.
Investors will be hoping for strength from Align Technology as it approaches its next earnings release. The company is expected to report EPS of $2.30, down 24.34% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.01 billion, up 0.26% from the year-ago period.
ALGN's full-year Zacks Consensus Estimates are calling for earnings of $10.14 per share and revenue of $4.24 billion. These results would represent year-over-year changes of -9.63% and +7.34%, respectively.
Any recent changes to analyst estimates for Align Technology should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Align Technology is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note Align Technology's current valuation metrics, including its Forward P/E ratio of 26.98. This represents a premium compared to its industry's average Forward P/E of 19.93.
Investors should also note that ALGN has a PEG ratio of 3.73 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Dental Supplies industry currently had an average PEG ratio of 2.36 as of yesterday's close.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Align Technology (ALGN) Stock Sinks As Market Gains: What You Should Know
Align Technology (ALGN - Free Report) closed the most recent trading day at $269.01, moving -1.68% from the previous trading session. This change lagged the S&P 500's 0.31% gain on the day. Elsewhere, the Dow gained 0.05%, while the tech-heavy Nasdaq added 0.14%.
Coming into today, shares of the maker of the Invisalign tooth-straightening system had lost 2.43% in the past month. In that same time, the Medical sector lost 0.97%, while the S&P 500 lost 1.38%.
Investors will be hoping for strength from Align Technology as it approaches its next earnings release. The company is expected to report EPS of $2.30, down 24.34% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.01 billion, up 0.26% from the year-ago period.
ALGN's full-year Zacks Consensus Estimates are calling for earnings of $10.14 per share and revenue of $4.24 billion. These results would represent year-over-year changes of -9.63% and +7.34%, respectively.
Any recent changes to analyst estimates for Align Technology should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Align Technology is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note Align Technology's current valuation metrics, including its Forward P/E ratio of 26.98. This represents a premium compared to its industry's average Forward P/E of 19.93.
Investors should also note that ALGN has a PEG ratio of 3.73 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Dental Supplies industry currently had an average PEG ratio of 2.36 as of yesterday's close.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.