Why Crocs (CROX) Outpaced the Stock Market Today

Crocs (CROX) closed the most recent trading day at $103.56, moving +1.11% from the previous trading session. This change outpaced the S&P 500's 0.92% gain on the day. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, added 2.03%.Prior to today's trading, shares of the footwear company had lost 5.79% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.7% and the S&P 500's gain of 0.81% in that time.Analysts and investors alike will be keeping a close eye on the performance of Crocs in its upcoming earnings disclosure. The company is expected to report EPS of $2.28, down 11.63% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $963.11 million, up 0.31% from the year-ago period.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Crocs. 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.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.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, there's been a 1.71% fall in the Zacks Consensus EPS estimate. Right now, Crocs possesses a Zacks Rank of #4 (Sell).Investors should also note Crocs's current valuation metrics, including its Forward P/E ratio of 8.02. This indicates a discount in contrast to its industry's Forward P/E of 16.21.One should further note that CROX currently holds a PEG ratio of 1.79. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Textile - Apparel industry currently had an average PEG ratio of 1.84 as of yesterday's close.The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons 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.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Crocs, Inc. (CROX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks