Apogee Enterprises (APOG) Gains As Market Dips: What You Should Know
Apogee Enterprises (APOG) closed at $50.59 in the latest trading session, marking a +1.25% move from the prior day. This change outpaced the S&P 500's 1.16% loss on the day. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 1.14%.
Heading into today, shares of the glass products company had gained 4.98% over the past month, outpacing the Industrial Products sector's gain of 0.29% and the S&P 500's loss of 0.27% in that time.
Investors will be hoping for strength from Apogee Enterprises as it approaches its next earnings release. On that day, Apogee Enterprises is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 4.72%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $366.53 million, down 1.5% from the year-ago period.
APOG's full-year Zacks Consensus Estimates are calling for earnings of $4.23 per share and revenue of $1.43 billion. These results would represent year-over-year changes of +6.28% and -0.42%, respectively.
Investors might also notice recent changes to analyst estimates for Apogee Enterprises. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Apogee Enterprises is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Apogee Enterprises's current valuation metrics, including its Forward P/E ratio of 11.82. Its industry sports an average Forward P/E of 7.8, so we one might conclude that Apogee Enterprises is trading at a premium comparatively.
The Glass Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Apogee Enterprises, Inc. (APOG) : Free Stock Analysis Report
