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

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

Separately, DA Davidson lifted their target price on shares of Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th.

Apogee Enterprises Trading Down 1.1 %

Shares of APOG stock opened at $82.03 on Friday. The business has a 50-day moving average price of $74.66 and a two-hundred day moving average price of $67.56. Apogee Enterprises has a 12-month low of $44.46 and a 12-month high of $87.93. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.80 billion, a P/E ratio of 17.27 and a beta of 0.97.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $335.31 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. Apogee Enterprises’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. Equities analysts anticipate that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Apogee Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Tuesday, October 22nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 1.22%. Apogee Enterprises’s payout ratio is 21.05%.

Institutional Trading of Apogee Enterprises

Several hedge funds and other institutional investors have recently bought and sold shares of APOG. Geode Capital Management LLC increased its stake in shares of Apogee Enterprises by 1.4% in the third 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 during the period. Barclays PLC grew its holdings in Apogee Enterprises by 77.8% in the 3rd quarter. Barclays PLC now owns 63,769 shares of the industrial products company’s stock worth $4,466,000 after acquiring an additional 27,904 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Apogee Enterprises in the third quarter valued at about $275,000. Millburn Ridgefield Corp bought a new position in shares of Apogee Enterprises during the third quarter valued at about $131,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Apogee Enterprises during the third quarter worth about $6,845,000. Institutional investors own 94.05% of the company’s stock.

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).