Apogee Enterprises (NASDAQ:APOG) Upgraded to “Buy” at DA Davidson

Apogee Enterprises (NASDAQ:APOG) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating in a note issued to investors on Monday,Benzinga reports. The firm currently has a $47.00 target price on the industrial products company’s stock. DA Davidson’s price target would suggest a potential upside of 40.63% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Wall Street Zen raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Apogee Enterprises in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.00.

Apogee Enterprises Stock Performance

APOG opened at $33.42 on Monday. The company has a market capitalization of $718.86 million, a price-to-earnings ratio of 16.38 and a beta of 1.10. The business’s 50-day moving average price is $39.96 and its two-hundred day moving average price is $40.84. Apogee Enterprises has a 1 year low of $32.95 and a 1 year high of $86.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.76 and a quick ratio of 1.37.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Friday, October 10th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. Apogee Enterprises had a return on equity of 15.76% and a net margin of 3.19%.The business had revenue of $358.19 million during the quarter, compared to the consensus estimate of $350.91 million. During the same period last year, the company earned $1.44 earnings per share. Apogee Enterprises’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts expect that Apogee Enterprises will post 4.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Apogee Enterprises

Several hedge funds have recently added to or reduced their stakes in APOG. Gallacher Capital Management LLC lifted its stake in shares of Apogee Enterprises by 180.4% during the 1st quarter. Gallacher Capital Management LLC now owns 10,104 shares of the industrial products company’s stock worth $468,000 after buying an additional 6,500 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Apogee Enterprises by 5.2% during the first quarter. Allianz Asset Management GmbH now owns 171,177 shares of the industrial products company’s stock worth $7,931,000 after acquiring an additional 8,535 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Apogee Enterprises by 133.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 16,750 shares of the industrial products company’s stock worth $776,000 after acquiring an additional 9,585 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Apogee Enterprises by 5.4% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 50,078 shares of the industrial products company’s stock valued at $2,320,000 after purchasing an additional 2,579 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its stake in shares of Apogee Enterprises by 51.7% during the first quarter. KLP Kapitalforvaltning AS now owns 13,500 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 4,600 shares during the period. Institutional investors and hedge funds 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).