In the latest trading session, New Age Beverage Corporation (NBEV - Free Report) closed at $5.10, marking a -1.92% move from the previous day. This change lagged the S&P 500's 0.21% loss on the day. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the company had lost 20.49% over the past month. This has lagged the Consumer Staples sector's gain of 0.6% and the S&P 500's gain of 1.81% in that time.
NBEV will be looking to display strength as it nears its next earnings release.
Any recent changes to analyst estimates for NBEV should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. Within the past 30 days, our consensus EPS projection has moved 300% higher. NBEV is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that NBEV has a Forward P/E ratio of 130 right now. Its industry sports an average Forward P/E of 21.56, so we one might conclude that NBEV is trading at a premium comparatively.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.