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Vita Coco Company, Inc. (COCO) closed at $37.44 in the latest trading session, marking a -1.68% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.51% for the day. On the other hand, the Dow registered a loss of 0.75%, and the technology-centric Nasdaq decreased by 0.28%.
Coming into today, shares of the company had gained 8.37% in the past month. In that same time, the Consumer Staples sector gained 1.47%, while the S&P 500 gained 2.87%.
Analysts and investors alike will be keeping a close eye on the performance of Vita Coco Company, Inc. in its upcoming earnings disclosure. On that day, Vita Coco Company, Inc. is projected to report earnings of $0.08 per share, which would represent a year-over-year decline of 27.27%. Meanwhile, our latest consensus estimate is calling for revenue of $122.22 million, up 15.15% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Vita Coco Company, Inc. 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.43% upward. Vita Coco Company, Inc. is currently a Zacks Rank #2 (Buy).
From a valuation perspective, Vita Coco Company, Inc. is currently exchanging hands at a Forward P/E ratio of 32.69. This valuation marks a premium compared to its industry's average Forward P/E of 18.15.
It is also worth noting that COCO currently has a PEG ratio of 2.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Beverages - Soft drinks industry held an average PEG ratio of 2.28.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 33% of all 250+ industries.