Apogee Enterprises (NASDAQ:APOG) Upgraded at StockNews.com

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

Separately, DA Davidson boosted their price objective on Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th.

Apogee Enterprises Price Performance

Shares of NASDAQ:APOG opened at $71.90 on Wednesday. The company has a market capitalization of $1.58 billion, a P/E ratio of 15.14 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. The firm’s 50 day simple moving average is $78.84 and its two-hundred day simple moving average is $70.80. Apogee Enterprises has a 1-year low of $51.15 and a 1-year high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Friday, October 4th. The industrial products company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The firm had revenue of $342.40 million during the quarter, compared to analyst estimates of $335.31 million. During the same quarter last year, the business posted $1.36 earnings per share. The business’s quarterly 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.

Hedge Funds Weigh In On Apogee Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in Apogee Enterprises by 15.5% during the 2nd quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock worth $57,620,000 after purchasing an additional 122,811 shares during the last quarter. American Century Companies Inc. raised its stake in shares of 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 worth $33,225,000 after purchasing an additional 99,495 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Apogee Enterprises in the 3rd quarter valued at $6,845,000. Assenagon Asset Management S.A. lifted its stake in shares of Apogee Enterprises by 70.8% in 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 period. Finally, Renaissance Technologies LLC lifted its position in Apogee Enterprises by 1,004.1% in the second quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock valued at $4,567,000 after purchasing an additional 66,100 shares during the period. 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).