Apogee Enterprises (NASDAQ:APOG) Shares Down 9.2% – Should You Sell?

Apogee Enterprises, Inc. (NASDAQ:APOG)’s stock price dropped 9.2% on Wednesday . The stock traded as low as $52.01 and last traded at $52.30. Approximately 128,135 shares changed hands during trading, a decline of 63% from the average daily volume of 349,319 shares. The stock had previously closed at $57.60.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com upgraded shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 1st. DA Davidson upped their target price on 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

The stock has a fifty day moving average of $78.37 and a 200 day moving average of $70.98. 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 market cap of $1.15 billion, a price-to-earnings ratio of 11.04 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $332.27 million. During the same period in the prior year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts expect that Apogee Enterprises, Inc. will post 5.06 EPS for the current fiscal year.

Institutional Trading of Apogee Enterprises

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