Yes and no. I would say it's kind of more formal, you would normally hear: "Pra você também", like in:
- Tenha um bom dia!
- Pra você também
- Bom apetite
- Pra você também
- Bom descanso
- Pra você também
"Igualmente" could also be used in all sentences. It came into my mind now also, I don't know if everyone will agree, that when you're discussing with someone you would prefer to use "igualmente" to sound more serious.
For example, you're talking to the lady of your internet provider on the phone and you're kind of having a little fight. At the end of the call she says: "Have a nice day": Tenha um bom dia. And then you say: Igualmente. Just to let her know you're angry - that's my point of view!
:)