In the latest trading session, Chewy (CHWY) closed at $23.40, marking a -1.89% move from the previous day. This change lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the online pet store had lost 9.97% over the past month, lagging the Consumer Staples sector's loss of 0.51% and the S&P 500's gain of 4.35% in that time.
Wall Street will be looking for positivity from CHWY as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for CHWY. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. CHWY is currently sporting a Zacks Rank of #3 (Hold).
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Chewy Inc. (CHWY) : Free Stock Analysis Report
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