Apogee Enterprises (NASDAQ:APOG) Shares Gap Down – Here’s What Happened

Apogee Enterprises, Inc. (NASDAQ:APOG)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $71.13, but opened at $64.82. Apogee Enterprises shares last traded at $60.58, with a volume of 165,419 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 1st. DA Davidson boosted their target price on Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th.

Apogee Enterprises Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. The stock has a 50-day moving average price of $78.73 and a 200 day moving average price of $71.00. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 12.55 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm had revenue of $341.30 million for the quarter, compared to analyst estimates of $332.27 million. During the same quarter in the previous year, the firm posted $1.23 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, analysts anticipate that Apogee Enterprises, Inc. will post 5.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Apogee Enterprises

A number of large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of Apogee Enterprises by 15.5% in the second quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock valued at $57,620,000 after purchasing an additional 122,811 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 7,382 shares during the last quarter. American Century Companies Inc. grew its position in shares of Apogee Enterprises by 23.2% in the 2nd quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock valued at $33,225,000 after acquiring an additional 99,495 shares during the period. Assenagon Asset Management S.A. lifted its stake in Apogee Enterprises by 70.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock valued at $11,369,000 after purchasing an additional 67,295 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Apogee Enterprises by 12.5% in the third quarter. FMR LLC now owns 104,690 shares of the industrial products company’s stock valued at $7,330,000 after buying an additional 11,627 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Apogee Enterprises Company Profile

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).