Apogee Enterprises (NASDAQ:APOG) Lowered to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Apogee Enterprises (NASDAQ:APOG) from a strong-buy rating to a buy rating in a research note published on Friday.

Separately, DA Davidson lifted their price target on shares of Apogee Enterprises from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th.

Apogee Enterprises Price Performance

Shares of APOG traded down $0.92 during mid-day trading on Friday, hitting $82.03. The company’s stock had a trading volume of 202,078 shares, compared to its average volume of 148,248. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. Apogee Enterprises has a 1-year low of $44.46 and a 1-year high of $87.93. The firm has a market capitalization of $1.80 billion, a P/E ratio of 17.27 and a beta of 0.97. The firm has a 50-day simple moving average of $74.66 and a 200 day simple moving average of $67.49.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $335.31 million. During the same quarter last year, the company earned $1.36 earnings per share. Apogee Enterprises’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts predict that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Apogee Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Tuesday, October 22nd were given a $0.25 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. Apogee Enterprises’s dividend payout ratio is presently 21.05%.

Hedge Funds Weigh In On Apogee Enterprises

Several hedge funds have recently added to or reduced their stakes in APOG. Geode Capital Management LLC grew its position in shares of Apogee Enterprises by 1.4% in the third quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock valued at $37,131,000 after purchasing an additional 7,382 shares during the last quarter. Barclays PLC grew its holdings in Apogee Enterprises by 77.8% during the 3rd quarter. Barclays PLC now owns 63,769 shares of the industrial products company’s stock valued at $4,466,000 after buying an additional 27,904 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Apogee Enterprises during the third quarter worth $275,000. Millburn Ridgefield Corp acquired a new position in shares of Apogee Enterprises in the third quarter worth $131,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Apogee Enterprises in the third quarter worth $6,845,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

About Apogee Enterprises

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).