Apogee Enterprises (APOG) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a sell rating to a hold rating in a research note issued to investors on Thursday, December 21st.

A number of other equities analysts have also recently commented on APOG. ValuEngine cut shares of Apogee Enterprises from a buy rating to a hold rating in a research note on Friday, September 1st. Zacks Investment Research cut shares of Apogee Enterprises from a hold rating to a sell rating in a research note on Monday, August 28th. Finally, DA Davidson set a $52.00 price target on shares of Apogee Enterprises and gave the stock a buy rating in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $63.33.

Apogee Enterprises (NASDAQ:APOG) opened at $46.73 on Thursday. The firm has a market cap of $1,309.47, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.51 and a beta of 1.62. Apogee Enterprises has a 52 week low of $40.03 and a 52 week high of $61.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.34 and a current ratio of 1.79.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. The business had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $373.35 million. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 30.1% on a year-over-year basis. equities analysts predict that Apogee Enterprises will post 3.05 EPS for the current fiscal year.

Apogee Enterprises announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 9th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th will be issued a dividend of $0.1575 per share. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, January 29th. This represents a $0.63 dividend on an annualized basis and a yield of 1.35%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 20.14%.

A number of institutional investors and hedge funds have recently made changes to their positions in APOG. Pinebridge Investments L.P. raised its holdings in shares of Apogee Enterprises by 1.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,792 shares of the industrial products company’s stock valued at $216,000 after purchasing an additional 55 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of Apogee Enterprises by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 5,333 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 60 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Apogee Enterprises by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,727 shares of the industrial products company’s stock valued at $1,292,000 after purchasing an additional 83 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Apogee Enterprises by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 14,987 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 100 shares in the last quarter. Finally, Renaissance Group LLC raised its holdings in shares of Apogee Enterprises by 2.6% in the 2nd quarter. Renaissance Group LLC now owns 6,488 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

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About Apogee Enterprises

Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.

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