Apogee Enterprises (APOG) Gains As Market Dips: What You Should Know
Apogee Enterprises (APOG) closed at $49.79 in the latest trading session, marking a +0.02% move from the prior day. This move outpaced the S&P 500's daily loss of 0.7%. At the same time, the Dow lost 0.54%, and the tech-heavy Nasdaq lost 1.17%.
Coming into today, shares of the glass products company had gained 3.13% in the past month. In that same time, the Industrial Products sector gained 3.56%, while the S&P 500 gained 2.35%.
Apogee Enterprises will be looking to display strength as it nears 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 should also note any recent changes to analyst estimates for Apogee Enterprises. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Apogee Enterprises is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Apogee Enterprises is currently trading at a Forward P/E ratio of 11.78. This represents a premium compared to its industry's average Forward P/E of 8.41.
The Glass Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% 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.
To follow APOG in the coming trading sessions, be sure to utilize Zacks.com.
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Apogee Enterprises, Inc. (APOG) : Free Stock Analysis Report
