Apogee Enterprises, Inc. (NASDAQ:APOG) Sees Large Drop in Short Interest

Apogee Enterprises, Inc. (NASDAQ:APOG) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 534,700 shares, a decrease of 20.4% from the March 15th total of 672,000 shares. Based on an average daily volume of 278,000 shares, the short-interest ratio is currently 1.9 days. Approximately 2.5% of the company’s stock are sold short.

Apogee Enterprises Stock Down 0.4 %

Shares of Apogee Enterprises stock opened at $45.54 on Monday. Apogee Enterprises has a one year low of $42.33 and a one year high of $87.93. The company has a market cap of $999.74 million, a P/E ratio of 10.17 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.63. The firm has a fifty day moving average of $47.19 and a two-hundred day moving average of $62.93.

Analyst Upgrades and Downgrades

APOG has been the topic of several research analyst reports. Sidoti raised Apogee Enterprises from a “neutral” rating to a “buy” rating in a research report on Friday, January 10th. Singular Research upgraded shares of Apogee Enterprises to a “moderate buy” rating in a research note on Tuesday, January 14th. StockNews.com cut shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 9th. Finally, DA Davidson lowered their price target on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Apogee Enterprises by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock worth $37,131,000 after buying an additional 7,382 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Apogee Enterprises during the 4th quarter worth $824,000. Raymond James Financial Inc. acquired a new position in shares of Apogee Enterprises during the 4th quarter worth $706,000. Ritholtz Wealth Management increased its holdings in shares of Apogee Enterprises by 69.0% in the 4th quarter. Ritholtz Wealth Management now owns 22,095 shares of the industrial products company’s stock valued at $1,578,000 after purchasing an additional 9,019 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Apogee Enterprises by 35.3% in the fourth quarter. Franklin Resources Inc. now owns 44,247 shares of the industrial products company’s stock valued at $3,160,000 after purchasing an additional 11,552 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

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).