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Chewy (CHWY): Strong Industry, Solid Earnings Estimate Revisions

Zacks Equity Research

One stock that might be an intriguing choice for investors right now is Chewy, Inc. CHWY. This is because this security in the Consumer Products – Staples space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Consumer Products – Staples space as it currently has a Zacks Industry Rank of 65 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Chewy is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Chewy Inc. Price and Consensus

Chewy Inc. Price and Consensus
Chewy Inc. Price and Consensus

Chewy Inc. price-consensus-chart | Chewy Inc. Quote

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In fact, over the past month, current quarter estimates have narrowed from a loss of 14 cents per share to a loss of 13 cents, while current year estimates have narrowed from a loss of 51 cents per share to a loss of 48 cents. This has helped CHWY to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider Chewy. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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