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

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

Separately, DA Davidson cut 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.

Apogee Enterprises Stock Performance

Shares of NASDAQ APOG opened at $50.75 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. The company has a market cap of $1.11 billion, a PE ratio of 10.68 and a beta of 1.04. The company has a 50-day simple moving average of $76.95 and a 200-day simple moving average of $70.73. Apogee Enterprises has a 12 month low of $50.67 and a 12 month high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $332.27 million. During the same period in the previous year, the company earned $1.23 EPS. Apogee Enterprises’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts anticipate that Apogee Enterprises will post 5.06 earnings per share for the current 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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, January 28th. Apogee Enterprises’s payout ratio is 23.21%.

Hedge Funds Weigh In On Apogee Enterprises

Institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP acquired a new stake in Apogee Enterprises in the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC grew its stake in shares of Apogee Enterprises by 43.2% in the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 163 shares in the last quarter. Quarry LP increased its holdings in shares of Apogee Enterprises by 959.4% during the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 662 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Apogee Enterprises during the third quarter valued at about $58,000. Finally, CWM LLC raised its stake in shares of Apogee Enterprises by 19.9% during the third quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 190 shares in the last quarter. 94.05% of the stock is owned by 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).