Apogee Enterprises Inc (NASDAQ:APOG) has received an average rating of “Hold” from the five research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $61.00.
A number of research firms have recently weighed in on APOG. BidaskClub downgraded Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st.
Apogee Enterprises (NASDAQ:APOG) traded down $0.17 on Tuesday, hitting $45.00. The stock had a trading volume of 304,630 shares, compared to its average volume of 291,285. Apogee Enterprises has a 12 month low of $40.03 and a 12 month high of $61.00. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $1,278.77, a P/E ratio of 16.19, a P/E/G ratio of 1.48 and a beta of 1.62.
Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Thursday, December 21st. The industrial products company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.14). Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. The firm had revenue of $356.50 million for the quarter, compared to analyst estimates of $373.35 million. During the same period in the prior year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. sell-side analysts expect that Apogee Enterprises will post 3.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Tuesday, January 30th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Monday, January 29th. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.14. Apogee Enterprises’s payout ratio is 20.14%.
Apogee Enterprises declared that its board has approved a share buyback plan on Tuesday, January 9th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in Apogee Enterprises by 79.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,486 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,100 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Apogee Enterprises by 99.8% in the second quarter. Riverhead Capital Management LLC now owns 2,398 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 1,198 shares in the last quarter. Flinton Capital Management LLC raised its stake in Apogee Enterprises by 80.0% in the second quarter. Flinton Capital Management LLC now owns 3,060 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 1,360 shares in the last quarter. SG Americas Securities LLC acquired a new position in Apogee Enterprises in the third quarter valued at about $190,000. Finally, Advisor Group Inc. raised its stake in Apogee Enterprises by 76.9% in the second quarter. Advisor Group Inc. now owns 3,444 shares of the industrial products company’s stock valued at $195,000 after purchasing an additional 1,497 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.
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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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