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

StockNews.com cut shares of Apogee Enterprises (NASDAQ:APOG) from a strong-buy rating to a buy rating in a research report released on Tuesday.

Separately, DA Davidson lifted their price target on shares of Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th.

Apogee Enterprises Price Performance

APOG opened at $74.80 on Tuesday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 15.75 and a beta of 0.99. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $80.32 and a 200-day moving average price of $70.04. Apogee Enterprises has a twelve month low of $50.75 and a twelve month high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.21. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The business had revenue of $342.40 million during the quarter, compared to analyst estimates of $335.31 million. During the same period in the previous year, the business posted $1.36 earnings per share. Apogee Enterprises’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts expect that Apogee Enterprises will post 5.06 EPS for the current year.

Apogee Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, October 22nd. Apogee Enterprises’s payout ratio is currently 21.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APOG. Pacer Advisors Inc. increased its position in Apogee Enterprises by 15.5% during the 2nd quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock valued at $57,620,000 after purchasing an additional 122,811 shares during the period. American Century Companies Inc. increased its position 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. Hotchkis & Wiley Capital Management LLC purchased a new position in Apogee Enterprises during the 3rd quarter valued at $6,845,000. Assenagon Asset Management S.A. boosted its holdings in shares of Apogee Enterprises by 70.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock valued at $11,369,000 after buying an additional 67,295 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Apogee Enterprises by 1,004.1% during 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 in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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).