Apogee Enterprises (NASDAQ:APOG) Shares Down 9.2% – Time to Sell?

Apogee Enterprises, Inc. (NASDAQ:APOG) was down 9.2% during mid-day trading on Wednesday . The stock traded as low as $52.01 and last traded at $52.30. Approximately 128,135 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 349,319 shares. The stock had previously closed at $57.60.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 1st. DA Davidson increased their target price on Apogee Enterprises from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th.

Apogee Enterprises Price Performance

The stock’s fifty day moving average price is $78.37 and its 200-day moving average price is $70.98. The firm has a market cap of $1.15 billion, a PE ratio of 11.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $341.30 million during the quarter, compared to the consensus estimate of $332.27 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. Apogee Enterprises’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, equities analysts expect that Apogee Enterprises, Inc. will post 5.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Apogee Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc raised its position in Apogee Enterprises by 6.2% in the second quarter. TD Asset Management Inc now owns 32,500 shares of the industrial products company’s stock valued at $2,042,000 after purchasing an additional 1,900 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Apogee Enterprises by 12.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 31,639 shares of the industrial products company’s stock valued at $1,988,000 after buying an additional 3,506 shares during the period. Acadian Asset Management LLC acquired a new position in Apogee Enterprises during the 2nd quarter worth about $3,547,000. Quest Partners LLC boosted its holdings in Apogee Enterprises by 115,311.1% during the 2nd quarter. Quest Partners LLC now owns 10,387 shares of the industrial products company’s stock valued at $653,000 after acquiring an additional 10,378 shares during the period. Finally, Texas Permanent School Fund Corp grew its position in Apogee Enterprises by 32.7% in the 2nd quarter. Texas Permanent School Fund Corp now owns 25,648 shares of the industrial products company’s stock valued at $1,612,000 after acquiring an additional 6,319 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Apogee Enterprises Company Profile

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).