Apogee Enterprises (NASDAQ:APOG) Rating Lowered to “Buy” at StockNews.com

Apogee Enterprises (NASDAQ:APOG) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, 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.

Apogee Enterprises Stock Down 8.8 %

NASDAQ:APOG opened at $52.52 on Thursday. The firm has a market cap of $1.15 billion, a P/E ratio of 11.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.65. The firm has a 50-day simple moving average of $77.90 and a two-hundred day simple moving average of $70.85. Apogee Enterprises has a fifty-two week low of $51.15 and a fifty-two week high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $332.27 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company posted $1.23 earnings per share. Analysts predict that Apogee Enterprises will post 5.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APOG. GAMMA Investing LLC increased its position in Apogee Enterprises by 43.2% during the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 163 shares during the last quarter. CWM LLC raised its position in Apogee Enterprises by 19.9% in the 3rd quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 190 shares during the period. Diversified Trust Co lifted its stake in Apogee Enterprises by 3.6% in the third quarter. Diversified Trust Co now owns 6,943 shares of the industrial products company’s stock worth $486,000 after purchasing an additional 243 shares during the last quarter. Moran Wealth Management LLC boosted its position in shares of Apogee Enterprises by 0.3% during the third quarter. Moran Wealth Management LLC now owns 98,367 shares of the industrial products company’s stock valued at $6,887,000 after buying an additional 304 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Apogee Enterprises by 44.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,293 shares of the industrial products company’s stock valued at $91,000 after buying an additional 396 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other 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).