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Align Technology (ALGN) Stock Sinks As Market Gains: What You Should Know
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Align Technology (ALGN - Free Report) closed the most recent trading day at $436.26, moving -0.18% from the previous trading session. This change lagged the S&P 500's 1.43% gain on the day. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the maker of the Invisalign tooth-straightening system had lost 9.45% over the past month, lagging the Medical sector's gain of 5.94% and the S&P 500's gain of 5.65% in that time.
Wall Street will be looking for positivity from Align Technology as it approaches its next earnings report date. The company is expected to report EPS of $2.24, down 10.04% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1 billion, up 11.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.75 per share and revenue of $4.78 billion. These totals would mark changes of +13.64% and +20.88%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Align Technology. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Align Technology is currently a Zacks Rank #3 (Hold).
Digging into valuation, Align Technology currently has a Forward P/E ratio of 34.29. This valuation marks a premium compared to its industry's average Forward P/E of 20.31.
Meanwhile, ALGN's PEG ratio is currently 2.71. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ALGN's industry had an average PEG ratio of 2.35 as of yesterday's close.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Align Technology (ALGN) Stock Sinks As Market Gains: What You Should Know
Align Technology (ALGN - Free Report) closed the most recent trading day at $436.26, moving -0.18% from the previous trading session. This change lagged the S&P 500's 1.43% gain on the day. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the maker of the Invisalign tooth-straightening system had lost 9.45% over the past month, lagging the Medical sector's gain of 5.94% and the S&P 500's gain of 5.65% in that time.
Wall Street will be looking for positivity from Align Technology as it approaches its next earnings report date. The company is expected to report EPS of $2.24, down 10.04% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1 billion, up 11.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.75 per share and revenue of $4.78 billion. These totals would mark changes of +13.64% and +20.88%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Align Technology. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Align Technology is currently a Zacks Rank #3 (Hold).
Digging into valuation, Align Technology currently has a Forward P/E ratio of 34.29. This valuation marks a premium compared to its industry's average Forward P/E of 20.31.
Meanwhile, ALGN's PEG ratio is currently 2.71. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ALGN's industry had an average PEG ratio of 2.35 as of yesterday's close.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.