DA Davidson Lowers Apogee Enterprises (NASDAQ:APOG) Price Target to $62.00

Apogee Enterprises (NASDAQ:APOG) had its price target decreased by investment analysts at DA Davidson from $75.00 to $62.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s target price would indicate a potential upside of 17.92% from the company’s current price.

Separately, StockNews.com upgraded Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 1st.

Apogee Enterprises Price Performance

NASDAQ APOG traded down $5.02 during trading hours on Wednesday, reaching $52.58. 427,741 shares of the company’s stock were exchanged, compared to its average volume of 416,325. The firm has a fifty day moving average of $78.37 and a 200-day moving average of $70.98. Apogee Enterprises has a one year low of $51.15 and a one year high of $87.93. The stock has a market cap of $1.15 billion, a PE ratio of 11.07 and a beta of 1.04. 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 (NASDAQ:APOG) last issued its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping 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 prior year, the firm earned $1.23 EPS. The company’s revenue was up .5% on a year-over-year basis. On average, equities research analysts predict that Apogee Enterprises will post 5.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apogee Enterprises

A number of institutional investors have recently made changes to their positions in APOG. Diversified Trust Co increased its stake in shares of Apogee Enterprises by 10.5% in the 4th quarter. Diversified Trust Co now owns 7,673 shares of the industrial products company’s stock valued at $548,000 after acquiring an additional 730 shares during the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 7,382 shares in the last quarter. Barclays PLC boosted its position in shares of Apogee Enterprises by 77.8% during the third quarter. Barclays PLC now owns 63,769 shares of the industrial products company’s stock worth $4,466,000 after purchasing an additional 27,904 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Apogee Enterprises in the 3rd quarter valued at $275,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Apogee Enterprises in the 3rd quarter valued at $131,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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).