Apogee Enterprises (NASDAQ:APOG) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.15, Morningstar.com reports. The company had revenue of $357.10 million for the quarter, compared to analysts’ expectations of $353.62 million. Apogee Enterprises had a return on equity of 16.04% and a net margin of 3.22%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. Apogee Enterprises updated its FY 2020 guidance to $3.00-3.20 EPS and its FY20 guidance to $3.00-3.20 EPS.
APOG opened at $41.94 on Thursday. The firm has a market cap of $1.09 billion, a PE ratio of 14.17, a P/E/G ratio of 1.36 and a beta of 1.65. The company has a quick ratio of 1.47, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $37.96 and a 200-day simple moving average of $38.72. Apogee Enterprises has a fifty-two week low of $26.38 and a fifty-two week high of $46.70.
Several institutional investors and hedge funds have recently added to or reduced their stakes in APOG. LSV Asset Management boosted its stake in shares of Apogee Enterprises by 303.1% during the 1st quarter. LSV Asset Management now owns 486,992 shares of the industrial products company’s stock worth $18,257,000 after acquiring an additional 366,192 shares in the last quarter. Coastal Investment Advisors Inc. bought a new stake in shares of Apogee Enterprises during the 2nd quarter worth $5,524,000. FMR LLC boosted its position in shares of Apogee Enterprises by 492.9% in the first quarter. FMR LLC now owns 147,702 shares of the industrial products company’s stock worth $5,537,000 after buying an additional 122,790 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of Apogee Enterprises by 30.6% in the first quarter. Westwood Holdings Group Inc. now owns 492,730 shares of the industrial products company’s stock worth $18,472,000 after buying an additional 115,539 shares during the period. Finally, Morgan Stanley boosted its position in shares of Apogee Enterprises by 739.6% in the second quarter. Morgan Stanley now owns 122,921 shares of the industrial products company’s stock worth $5,339,000 after buying an additional 108,280 shares during the period. 90.44% of the stock is owned by institutional investors and hedge funds.
APOG has been the subject of several research reports. ValuEngine raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Tuesday. TheStreet lowered Apogee Enterprises from a “b-” rating to a “c+” rating in a research note on Tuesday, August 27th. BidaskClub raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Craig Hallum raised their price objective on Apogee Enterprises from $46.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $43.33.
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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