Sector laggard about to play catch up?

(Click for video linked to a searchable transcript of this Mad Money segment)

Though it's gained more than 20% ytd, this stock has lagged peers. Cramer thinks that could soon change

The Mad Money host is talking about WhiteWave Foods.

Cramer believes healthy eating is a long-term investable theme, and that this company sits squarely in the trend's sweet spot

Formerly a division of Dean Foods, White Wave makes Horizon organic milk, as well as coffee creamers, iced coffee, and non-dairy products such as Silk soy milk.

Largely Cramer believes the organic food trend is so hot on Wall Street right now that the underperformance is due to nothing more than results meeting estimates but not exceeding them. "The Street wants even more, " Cramer said. "Expectations are very high."

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Nonetheless, he believes the business is solid and the growth potential is enormous. In fact, Cramer thinks the latest earnings from WhiteWave confirm his outlook.

For the three months ended June 30, WhiteWave Foods earned $31.2 million, or 18 cents per share. That's compared with $26.4 million, or 18 cents per share, a year ago, when there were fewer outstanding shares.

Not including one-time items, it earned 16 cents per share, in line with Wall Street expectations.

Revenue rose 11 percent to $616 million, above the $608.3 million analysts had forecast.

These metrics alone are enough to get Cramer excited. However in July 2013 he cited another compelling reason for the stock to advance.

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"On an earnings basis, WhiteWave is super cheap compared to its cohorts," Cramer said. Consider that WhiteWave sells for about 22 times next year's earnings estimates with a 20% long-term growth rate. Meanwhile, Hain Celestial sells for a higher multiple, 25 times next year's earnings, even though it has a lower 16.7% long-term growth rate. And Annie's sells for 36 times earnings, and it's only growing a couple of percentage points faster than WhiteWave, at 22.5%."

As soon as the Street catches on, Cramer thinks the stock could take-off.

"I think it could be time for this stock to play catch-up," he said.

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