Apogee Enterprises (NASDAQ:APOG) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday.
A number of other research firms have also weighed in on APOG. ValuEngine raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. DA Davidson set a $48.00 target price on shares of Apogee Enterprises and gave the stock a “hold” rating in a research note on Wednesday, September 19th. Goldman Sachs Group initiated coverage on shares of Apogee Enterprises in a research note on Tuesday, October 2nd. They set a “neutral” rating and a $43.00 price objective on the stock. Finally, TheStreet downgraded shares of Apogee Enterprises from a “b” rating to a “c+” rating in a research note on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Apogee Enterprises has a consensus rating of “Hold” and a consensus price target of $50.25.
Shares of APOG stock opened at $37.19 on Friday. Apogee Enterprises has a 1 year low of $33.10 and a 1 year high of $51.33. The company has a quick ratio of 1.33, a current ratio of 1.73 and a debt-to-equity ratio of 0.42. The firm has a market cap of $987.51 million, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.10 and a beta of 1.50.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Tuesday, September 18th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). Apogee Enterprises had a net margin of 5.81% and a return on equity of 16.96%. The business had revenue of $362.10 million for the quarter, compared to the consensus estimate of $364.57 million. During the same period in the previous year, the firm earned $0.60 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Apogee Enterprises will post 3.2 earnings per share for the current fiscal year.
Apogee Enterprises declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 3rd that allows the company to buyback 2,000,000 shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Apogee Enterprises news, Director Herbert K. Parker bought 7,000 shares of Apogee Enterprises stock in a transaction that occurred on Monday, October 29th. The stock was purchased at an average price of $33.38 per share, with a total value of $233,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in APOG. Point72 Asset Management L.P. purchased a new position in Apogee Enterprises in the second quarter valued at $130,000. Point72 Hong Kong Ltd acquired a new stake in shares of Apogee Enterprises in the second quarter valued at about $141,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Apogee Enterprises in the second quarter valued at about $162,000. First Interstate Bank grew its position in shares of Apogee Enterprises by 77.2% in the second quarter. First Interstate Bank now owns 3,474 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 1,514 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Apogee Enterprises in the first quarter valued at about $214,000. 98.89% of the stock is owned by institutional investors.
About Apogee Enterprises
Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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