Apogee Enterprises (APOG) Outperforms Broader Market: What You Need to Know

Apogee Enterprises (APOG) closed at $58.11 in the latest trading session, marking a +1.4% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.57%. On the other hand, the Dow registered a gain of 0.83%, and the technology-centric Nasdaq increased by 0.39%.

Shares of the glass products company witnessed a gain of 4.56% over the previous month, trailing the performance of the Industrial Products sector with its gain of 5.08% and outperforming the S&P 500's gain of 2.97%.

The investment community will be paying close attention to the earnings performance of Apogee Enterprises in its upcoming release. In that report, analysts expect Apogee Enterprises to post earnings of $0.97 per share. This would mark year-over-year growth of 12.79%. Simultaneously, our latest consensus estimate expects the revenue to be $342.87 million, showing a 0.36% drop compared to the year-ago quarter.

Investors might also notice recent changes to analyst estimates for Apogee Enterprises. Recent revisions tend to reflect the latest near-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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 currently sporting a Zacks Rank of #3 (Hold).

Looking at valuation, Apogee Enterprises is presently trading at a Forward P/E ratio of 13.11. For comparison, its industry has an average Forward P/E of 9.78, which means Apogee Enterprises is trading at a premium to the group.

The Glass Products industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 40% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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