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

StockNews.com lowered shares of Apogee Enterprises (NASDAQ:APOG) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

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

Apogee Enterprises Trading Down 8.8 %

APOG opened at $52.52 on Thursday. Apogee Enterprises has a one year low of $51.15 and a one year high of $87.93. 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 business has a 50 day simple moving average of $77.45 and a two-hundred day simple moving average of $70.72. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 11.06 and a beta of 1.04.

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

Apogee Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Tuesday, January 28th will be issued a $0.26 dividend. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 1.98%. Apogee Enterprises’s dividend payout ratio is 21.05%.

Institutional Trading of Apogee Enterprises

A number of hedge funds have recently modified their holdings of the business. TD Asset Management Inc boosted its stake in Apogee Enterprises by 6.2% during the second quarter. TD Asset Management Inc now owns 32,500 shares of the industrial products company’s stock worth $2,042,000 after acquiring an additional 1,900 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Apogee Enterprises in the 2nd quarter worth approximately $3,547,000. Quest Partners LLC grew its stake in shares of Apogee Enterprises by 115,311.1% in the 2nd quarter. Quest Partners LLC now owns 10,387 shares of the industrial products company’s stock worth $653,000 after buying an additional 10,378 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Apogee Enterprises by 32.7% during the 2nd quarter. Texas Permanent School Fund Corp now owns 25,648 shares of the industrial products company’s stock valued at $1,612,000 after buying an additional 6,319 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in Apogee Enterprises by 294.5% during the second quarter. Headlands Technologies LLC now owns 3,026 shares of the industrial products company’s stock valued at $190,000 after buying an additional 2,259 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).