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

StockNews.com downgraded shares of Apogee Enterprises (NASDAQ:APOG) from a strong-buy rating to a buy rating in a research report report published on Friday morning.

Separately, DA Davidson lifted their target price on shares of 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

Shares of APOG stock opened at $82.03 on Friday. The business’s fifty day moving average is $74.66 and its 200 day moving average is $67.56. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 17.27 and a beta of 0.97. Apogee Enterprises has a twelve month low of $44.46 and a twelve month high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate of $335.31 million. During the same period in the prior year, the firm earned $1.36 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. Research analysts expect that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Apogee Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Tuesday, October 22nd were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. Apogee Enterprises’s dividend payout ratio is currently 21.05%.

Hedge Funds Weigh In On Apogee Enterprises

Several large investors have recently modified their holdings of APOG. Gladius Capital Management LP purchased a new position in Apogee Enterprises in the third quarter worth about $33,000. GAMMA Investing LLC boosted its stake in Apogee Enterprises by 43.2% during the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 163 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of Apogee Enterprises by 340.8% in the 1st quarter. Headlands Technologies LLC now owns 767 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 593 shares in the last quarter. Quarry LP raised its stake in shares of Apogee Enterprises by 959.4% in the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 662 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in shares of Apogee Enterprises by 31.4% during the first quarter. EntryPoint Capital LLC now owns 929 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Apogee Enterprises

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).