New Age Beverage Corporation (NBEV - Free Report) closed at $5.38 in the latest trading session, marking a -1.47% move from the prior day. This change lagged the S&P 500's 0.09% loss on the day. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq lost 0.16%.
Coming into today, shares of the company had lost 17.52% in the past month. In that same time, the Consumer Staples sector gained 0.45%, while the S&P 500 gained 2.35%.
Investors will be hoping for strength from NBEV as it approaches its next earnings release.
Any recent changes to analyst estimates for NBEV should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 300% higher within the past month. NBEV is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, NBEV is currently trading at a Forward P/E ratio of 136.5. Its industry sports an average Forward P/E of 21.97, 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 group has a Zacks Industry Rank of 195, putting it in the bottom 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.