Apogee Enterprises (NASDAQ:APOG) Cut to “Buy” at StockNews.com

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

Separately, DA Davidson reduced their price objective on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday.

Apogee Enterprises Price Performance

APOG stock opened at $50.75 on Thursday. The business has a 50 day moving average price of $76.95 and a 200 day moving average price of $70.73. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 10.68 and a beta of 1.04. Apogee Enterprises has a fifty-two week low of $50.67 and a fifty-two week high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The business had revenue of $341.30 million during the quarter, compared to the consensus estimate of $332.27 million. During the same quarter in the previous year, the firm earned $1.23 EPS. The company’s revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that Apogee Enterprises will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, January 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.05%. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s payout ratio is currently 23.21%.

Institutional Investors Weigh In On Apogee Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of APOG. Gladius Capital Management LP purchased a new position in Apogee Enterprises during the 3rd quarter valued at about $33,000. GAMMA Investing LLC grew its position in shares of Apogee Enterprises by 43.2% in the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 163 shares during the last quarter. Quarry LP increased its stake in shares of Apogee Enterprises by 959.4% during the 2nd quarter. Quarry LP now owns 731 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 662 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Apogee Enterprises during the 3rd quarter worth approximately $58,000. Finally, CWM LLC lifted its stake in Apogee Enterprises by 19.9% in the 3rd quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock valued at $80,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds 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).