Apogee Enterprises (NASDAQ:APOG) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Apogee Enterprises (NASDAQ:APOGFree Report) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning.

Separately, DA Davidson dropped their price target on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday.

View Our Latest Stock Analysis on Apogee Enterprises

Apogee Enterprises Price Performance

Shares of APOG opened at $52.52 on Thursday. Apogee Enterprises has a twelve month low of $51.15 and a twelve month high of $87.93. The company has a market capitalization of $1.15 billion, a P/E ratio of 11.06 and a beta of 1.04. The firm has a 50 day moving average of $77.45 and a 200 day moving average of $70.72. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12.

Apogee Enterprises (NASDAQ:APOGGet Free Report) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $341.30 million during the quarter, compared to analyst estimates of $332.27 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. As a group, equities research analysts anticipate that Apogee Enterprises will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th will be paid a $0.26 dividend. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.98%. Apogee Enterprises’s dividend payout ratio (DPR) is 21.05%.

Institutional Trading of Apogee Enterprises

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of Apogee Enterprises by 15.5% during the 2nd quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock valued at $57,620,000 after purchasing an additional 122,811 shares during the period. Geode Capital Management LLC grew its position in Apogee Enterprises by 1.4% during the third quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock valued at $37,131,000 after buying an additional 7,382 shares during the period. American Century Companies Inc. increased its holdings in Apogee Enterprises by 23.2% during the second quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock valued at $33,225,000 after buying an additional 99,495 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Apogee Enterprises by 70.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock worth $11,369,000 after acquiring an additional 67,295 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Apogee Enterprises by 12.5% during the 3rd quarter. FMR LLC now owns 104,690 shares of the industrial products company’s stock worth $7,330,000 after acquiring an additional 11,627 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Apogee Enterprises Company Profile

(Get Free Report)

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).

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