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Chewy (CHWY) Gains As Market Dips: What You Should Know

Zacks Equity Research

Chewy (CHWY) closed the most recent trading day at $23.20, moving +0.35% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.4%, while the tech-heavy Nasdaq lost 0.51%.

Coming into today, shares of the online pet store had lost 17.61% in the past month. In that same time, the Consumer Staples sector lost 0.09%, while the S&P 500 gained 4.7%.

Wall Street will be looking for positivity from CHWY as it approaches its next earnings report date. This is expected to be December 9, 2019.

Any recent changes to analyst estimates for CHWY 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CHWY is currently a Zacks Rank #3 (Hold).

The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 205, which puts it in the bottom 20% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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