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Weakness Seen in Apogee Enterprises (APOG): Stock Tumbles 7.9%

Apogee Enterprises, Inc.APOG saw a big move in the last trading session, as the company's shares fell by nearly 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend for APOG, as the stock is now down over 20% in the past one-month time frame.

The company's shares slumped after it reported its third-quarter fiscal 2016 earnings, where revenues came in weaker than expected. The company also revised its revenue growth guidance for fiscal 2016 to mid-single digits from high-single digits.

The company, which designs and develops glass solutions for enclosing commercial buildings and framing art in the United States, Canada, and Brazil, has seen a flat track record when it comes to current year estimate revisions over the past few weeks, and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

APOG currently holds a Zacks Rank #4 (Sell).

Investors interested in the broader Industrial Products sector may consider a better-ranked stock like Albany International Corp. AIN , carrying a Zacks Rank #1 (Strong Buy).

Is APOG going up? Or down? Predict to see what others think: Up or Down

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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.


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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