Apogee Enterprises (NASDAQ:APOG) Sets New 1-Year High at $70.81

Apogee Enterprises, Inc. (NASDAQ:APOG)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $70.81 and last traded at $70.80, with a volume of 16302 shares traded. The stock had previously closed at $69.67.

Wall Street Analyst Weigh In

Several research analysts have issued reports on APOG shares. StockNews.com raised shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 26th. DA Davidson boosted their price objective on shares of Apogee Enterprises from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th.

Apogee Enterprises Stock Performance

The company has a current ratio of 1.64, a quick ratio of 1.29 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $64.91 and a 200-day simple moving average of $62.67. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 14.63 and a beta of 0.98.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.28. Apogee Enterprises had a net margin of 7.72% and a return on equity of 24.74%. The company had revenue of $331.50 million during the quarter, compared to analyst estimates of $333.22 million. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was down 8.3% on a year-over-year basis. On average, analysts anticipate that Apogee Enterprises, Inc. will post 4.86 earnings per share for the current year.

Insider Activity

In other news, insider Brent C. Jewell sold 5,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.34, for a total transaction of $321,700.00. Following the transaction, the insider now owns 23,405 shares of the company’s stock, valued at approximately $1,505,877.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Apogee Enterprises during the fourth quarter valued at about $7,893,000. Pacer Advisors Inc. lifted its position in shares of Apogee Enterprises by 15.5% during the 2nd quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock worth $57,620,000 after purchasing an additional 122,811 shares during the last quarter. American Century Companies Inc. boosted its stake in Apogee Enterprises by 23.2% during the 2nd quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock valued at $33,225,000 after purchasing an additional 99,495 shares during the period. Renaissance Technologies LLC grew its holdings in Apogee Enterprises by 1,004.1% in the 2nd quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock valued at $4,567,000 after buying an additional 66,100 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Apogee Enterprises in the 2nd quarter valued at approximately $3,547,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

About Apogee Enterprises

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).