Apogee Enterprises (NASDAQ:APOG) Downgraded by BidaskClub

BidaskClub lowered shares of Apogee Enterprises (NASDAQ:APOG) from a sell rating to a strong sell rating in a research report released on Saturday morning, BidAskClub reports.

Several other equities research analysts have also recently issued reports on APOG. ValuEngine cut shares of Apogee Enterprises from a hold rating to a sell rating in a research report on Wednesday, July 17th. DA Davidson lifted their price objective on shares of Apogee Enterprises to $35.00 and gave the company a neutral rating in a research report on Friday, April 12th. Craig Hallum lifted their price objective on shares of Apogee Enterprises from $46.00 to $52.00 and gave the company a buy rating in a research report on Friday, June 28th. Finally, TheStreet upgraded shares of Apogee Enterprises from a c rating to a b- rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $43.33.

Apogee Enterprises stock opened at $37.80 on Friday. The company has a market capitalization of $1.01 billion, a PE ratio of 12.77, a P/E/G ratio of 1.26 and a beta of 1.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.83. Apogee Enterprises has a 1 year low of $26.38 and a 1 year high of $50.84. The firm’s 50 day moving average is $40.95.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Thursday, June 27th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. The firm had revenue of $355.40 million for the quarter, compared to analysts’ expectations of $324.39 million. Apogee Enterprises had a net margin of 3.22% and a return on equity of 16.04%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. Sell-side analysts expect that Apogee Enterprises will post 3.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Monday, July 15th. Apogee Enterprises’s dividend payout ratio (DPR) is presently 23.65%.

Hedge funds have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc purchased a new position in shares of Apogee Enterprises in the second quarter valued at $26,000. PNC Financial Services Group Inc. grew its holdings in shares of Apogee Enterprises by 105.5% in the first quarter. PNC Financial Services Group Inc. now owns 937 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 481 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Apogee Enterprises by 475.4% in the first quarter. Versant Capital Management Inc now owns 1,053 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 870 shares in the last quarter. Cutler Group LP purchased a new position in shares of Apogee Enterprises in the first quarter valued at $48,000. Finally, ETF Managers Group LLC grew its holdings in shares of Apogee Enterprises by 460.1% in the first quarter. ETF Managers Group LLC now owns 3,327 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 2,733 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

About Apogee Enterprises

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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