Apogee Enterprises, Inc. (APOG) Cut to “Sell” at BidaskClub

Apogee Enterprises, Inc. (NASDAQ:APOG) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday, July 13th.

Several other research analysts have also commented on APOG. ValuEngine raised Apogee Enterprises from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Sidoti assumed coverage on Apogee Enterprises in a research report on Thursday, May 25th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Friday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.75.

Shares of Apogee Enterprises (NASDAQ APOG) opened at 52.11 on Thursday. The firm’s 50-day moving average price is $54.30 and its 200 day moving average price is $55.74. The stock has a market cap of $1.50 billion, a P/E ratio of 17.85 and a beta of 1.56. Apogee Enterprises has a one year low of $39.88 and a one year high of $61.00.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Thursday, June 22nd. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.71 by $0.09. Apogee Enterprises had a net margin of 7.39% and a return on equity of 18.59%. The company had revenue of $272.30 million during the quarter, compared to analysts’ expectations of $271.13 million. During the same period last year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts expect that Apogee Enterprises will post $3.38 EPS for the current fiscal year.

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In other news, Director Jerome L. Davis sold 18,706 shares of Apogee Enterprises stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $55.04, for a total transaction of $1,029,578.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in Apogee Enterprises by 0.3% in the second quarter. Creative Planning now owns 4,228 shares of the industrial products company’s stock worth $240,000 after buying an additional 11 shares during the period. State of Alaska Department of Revenue increased its position in Apogee Enterprises by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,180 shares of the industrial products company’s stock worth $189,000 after buying an additional 60 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Apogee Enterprises by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the industrial products company’s stock worth $697,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System increased its position in shares of Apogee Enterprises by 0.7% in the second quarter. Arizona State Retirement System now owns 14,987 shares of the industrial products company’s stock worth $852,000 after buying an additional 100 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Apogee Enterprises by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,400 shares of the industrial products company’s stock worth $500,000 after buying an additional 130 shares during the last quarter.

About Apogee Enterprises

Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.

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