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).
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