Apogee Enterprises (APOG) Stock Sinks As Market Gains: What You Should Know
Apogee Enterprises (APOG) closed at $49.57 in the latest trading session, marking a -0.6% move from the prior day. This move lagged the S&P 500's daily gain of 0.63%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.84%.
Coming into today, shares of the glass products company had gained 5.01% in the past month. In that same time, the Industrial Products sector lost 3.79%, while the S&P 500 lost 3.37%.
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%. Our most recent consensus estimate is calling for quarterly revenue 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.
Any recent changes to analyst estimates for Apogee Enterprises should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Apogee Enterprises is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Apogee Enterprises's current valuation metrics, including its Forward P/E ratio of 11.8. This represents a premium compared to its industry's average Forward P/E of 7.7.
The Glass Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Apogee Enterprises, Inc. (APOG) : Free Stock Analysis Report
