Apogee Enterprises, Inc. (NASDAQ:APOG) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.
Several other equities research analysts also recently commented on APOG. Sidoti started coverage on Apogee Enterprises in a report on Thursday, May 25th. They issued a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research raised Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective for the company in a report on Monday, June 19th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $61.80.
Shares of Apogee Enterprises (APOG) opened at 55.16 on Thursday. Apogee Enterprises has a 1-year low of $39.88 and a 1-year high of $61.00. The firm has a market capitalization of $1.59 billion, a PE ratio of 18.89 and a beta of 1.58. The firm has a 50-day moving average of $54.64 and a 200-day moving average of $55.61.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by $0.09. Apogee Enterprises had a return on equity of 18.59% and a net margin of 7.39%. The firm had revenue of $272.30 million for the quarter, compared to analyst estimates of $271.13 million. During the same period last year, the company earned $0.61 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Apogee Enterprises will post $3.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Monday, July 10th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, July 6th. Apogee Enterprises’s payout ratio is presently 19.24%.
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In other news, CEO Joseph F. Puishys sold 100,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $55.97, for a total value of $5,597,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 180,000 shares of company stock valued at $10,084,600. 3.70% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its stake in Apogee Enterprises by 27.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 23,318 shares of the industrial products company’s stock valued at $1,249,000 after buying an additional 5,023 shares during the last quarter. Comerica Bank increased its stake in Apogee Enterprises by 4.6% in the fourth quarter. Comerica Bank now owns 30,681 shares of the industrial products company’s stock valued at $1,719,000 after buying an additional 1,361 shares during the last quarter. State Street Corp increased its stake in Apogee Enterprises by 3.9% in the fourth quarter. State Street Corp now owns 1,061,668 shares of the industrial products company’s stock valued at $56,866,000 after buying an additional 40,145 shares during the last quarter. FMR LLC increased its stake in Apogee Enterprises by 795.6% in the fourth quarter. FMR LLC now owns 269,210 shares of the industrial products company’s stock valued at $14,419,000 after buying an additional 239,150 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Apogee Enterprises by 5.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,560 shares of the industrial products company’s stock valued at $833,000 after buying an additional 780 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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