IDN - Shares of Apogee Rally 77% in a Year: Here's Why | Benzinga
Apogee Enterprises, Inc. (NASDAQ: APOG) shares have shot up 77.4% in the past year against the industry's decline of 34.6%. Moreover, the S&P 500 has risen 8.2% over the same period.
Image Source - Zacks Investment Research
Let us take a look into the factors that are driving this Zacks Rank #3 (Hold) stock.
What's Going in Apogee's Favor?
Solid Segment Performances: APOG's Architectural Glass segment witnessed solid year-over-year growth and margin expansion in the fourth quarter of fiscal 2024 despite significant supply-chain and inflation headwinds.
The segment is gaining on improved pricing and product mix, reflecting the company's strategic shift toward more premium products. The segment is also benefiting from an improved sales mix and productivity gains from its Lean program and higher pricing that helped offset inflation.
The company's Architectural Services segment is also gaining from a favorable mix of projects.
The Architectural Services segment's backlog was $808 million at the end of the fiscal fourth quarter compared with $777 million in the prior quarter's end. The backlog in the Architectural Framing segment amounted to $201 million, up from $184 million at the end of ...