Apogee Enterprises (NASDAQ:APOG) had its price objective cut by Craig Hallum from $60.00 to $55.00 in a research report released on Friday morning. They currently have a buy rating on the industrial products company’s stock.
APOG has been the subject of a number of other reports. BidaskClub downgraded Apogee Enterprises from a buy rating to a hold rating in a report on Wednesday, February 28th. DA Davidson lowered their price target on Apogee Enterprises from $50.00 to $47.00 and set a buy rating for the company in a report on Friday. Goldman Sachs downgraded Apogee Enterprises from a neutral rating to a sell rating in a report on Wednesday, April 4th. Zacks Investment Research raised Apogee Enterprises from a sell rating to a hold rating in a report on Thursday, February 22nd. Finally, ValuEngine downgraded Apogee Enterprises from a buy rating to a hold rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Apogee Enterprises has an average rating of Hold and an average target price of $57.33.
Shares of Apogee Enterprises stock opened at $41.37 on Friday. Apogee Enterprises has a one year low of $37.24 and a one year high of $59.76. The stock has a market cap of $1,130.22, a PE ratio of 13.35, a P/E/G ratio of 1.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.67 and a quick ratio of 1.32.
Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Thursday, April 12th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.21. The firm had revenue of $353.30 million during the quarter, compared to the consensus estimate of $363.31 million. Apogee Enterprises had a return on equity of 17.78% and a net margin of 5.99%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 earnings per share. sell-side analysts predict that Apogee Enterprises will post 3.53 earnings per share for the current year.
Apogee Enterprises declared that its Board of Directors has initiated a share buyback plan on Tuesday, January 9th that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, Director Sara L. Hays sold 2,229 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $45.46, for a total value of $101,330.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Elkfork Partners LLC acquired a new stake in shares of Apogee Enterprises in the fourth quarter valued at approximately $170,000. MetLife Investment Advisors LLC acquired a new stake in shares of Apogee Enterprises in the fourth quarter valued at approximately $626,000. HCSF Management LLC acquired a new stake in shares of Apogee Enterprises in the fourth quarter valued at approximately $3,658,000. Westwood Holdings Group Inc. boosted its holdings in shares of Apogee Enterprises by 13.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 602,010 shares of the industrial products company’s stock valued at $27,530,000 after acquiring an additional 73,450 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Apogee Enterprises by 16.5% in the fourth quarter. Glenmede Trust Co. NA now owns 811,253 shares of the industrial products company’s stock valued at $37,096,000 after acquiring an additional 114,840 shares during the period. 99.77% of the stock is owned by institutional investors and hedge funds.
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Apogee Enterprises Company Profile
Apogee Enterprises, Inc designs and develops glass products and services in the United States, Canada, and Brazil. The company operates through four segments: Architectural Glass, Architectural Framing Systems, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated and high-performance glass used in customized windows and wall systems comprising the outside skin of commercial, institutional, and multi-family residential buildings.
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