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One such stock that you may want to consider dropping is Apogee Enterprises, Inc. APOG, which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #5 (Strong Sell) further confirms weakness in APOG.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 1 estimate moving down in the past 30 days, compared with no upward revision. This trend has caused the consensus estimate to trend lower, going from $1.70 a share a month ago to its current level of $1.45.
Also, for the current quarter, Apogee has seen 1 downward estimate revisions versus no revision in the opposite direction, dragging the consensus estimate down to 23 cents a share from 32 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 10.0% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don't have a long time horizon to wait.
If you are still interested in the Construction sector, you may instead consider some better-ranked stocks including MasTec, Inc. MTZ, Vulcan Materials Company VMC and Pernix Group Inc (PRXG). All these stocks hold a Zacks Rank #1 (Buy) and may be better selections at this time.
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APOGEE ENTRPRS APOG: Free Stock Analysis Report
MASTEC INC MTZ: Free Stock Analysis Report
PERNIX GROUP (PRXG): Get Free Report
VULCAN MATLS CO VMC: Free Stock Analysis Report
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