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Here's Why Apogee Enterprises (APOG) Fell More Than Broader Market

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Apogee Enterprises (APOG - Free Report) closed at $45.70 in the latest trading session, marking a -0.89% move from the prior day. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow experienced a drop of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.07%.

The the stock of glass products company has risen by 11.46% in the past month, leading the Industrial Products sector's gain of 7.01% and the S&P 500's gain of 7.49%.

The investment community will be paying close attention to the earnings performance of Apogee Enterprises in its upcoming release. On that day, Apogee Enterprises is projected to report earnings of $1.05 per share, which would represent a year-over-year decline of 1.87%. In the meantime, our current consensus estimate forecasts the revenue to be $360.91 million, indicating a 1.89% decline compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $4.49 per share and revenue of $1.43 billion, which would represent changes of +12.81% and -0.74%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Apogee Enterprises. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Apogee Enterprises presently features a Zacks Rank of #1 (Strong Buy).

Investors should also note Apogee Enterprises's current valuation metrics, including its Forward P/E ratio of 10.27. This valuation marks a premium compared to its industry's average Forward P/E of 6.58.

The Glass Products industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% 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.

Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions.

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