Apogee Enterprises (NASDAQ:APOG) Downgraded by StockNews.com to Buy

Apogee Enterprises (NASDAQ:APOG) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Separately, DA Davidson lifted 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

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 stock’s 50-day moving average is $74.66 and its two-hundred day moving average is $67.49. The firm has a market capitalization of $1.80 billion, a PE ratio of 17.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.65. Apogee Enterprises has a one year low of $44.46 and a one year high of $87.93.

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

Institutional Investors Weigh In On Apogee Enterprises

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Apogee Enterprises by 599.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,119 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 959 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Apogee Enterprises by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 19,329 shares of the industrial products company’s stock valued at $1,144,000 after buying an additional 261 shares during the period. SG Americas Securities LLC bought a new stake in shares of Apogee Enterprises during the first quarter worth $747,000. Headlands Technologies LLC lifted its stake in shares of Apogee Enterprises by 340.8% during the first quarter. Headlands Technologies LLC now owns 767 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 593 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Apogee Enterprises by 1,765.7% during the first quarter. Russell Investments Group Ltd. now owns 5,933 shares of the industrial products company’s stock valued at $351,000 after acquiring an additional 5,615 shares during the period. 94.05% of the stock is currently owned by 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).