Apogee Enterprises (NASDAQ:APOG) Price Target Cut to $62.00 by Analysts at DA Davidson

Apogee Enterprises (NASDAQ:APOG) had its target price reduced by equities research analysts at DA Davidson from $75.00 to $62.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s price target indicates a potential upside of 18.05% from the company’s previous close.

Separately, StockNews.com raised shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 1st.

Apogee Enterprises Price Performance

Apogee Enterprises stock opened at $52.52 on Wednesday. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 11.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. Apogee Enterprises has a 1 year low of $51.15 and a 1 year high of $87.93. The firm has a 50-day moving average of $77.45 and a two-hundred day moving average of $70.72.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm had revenue of $341.30 million during the quarter, compared to analyst estimates of $332.27 million. During the same quarter in the previous year, the business posted $1.23 EPS. Apogee Enterprises’s revenue was up .5% on a year-over-year basis. On average, research analysts forecast that Apogee Enterprises will post 5.06 earnings per share for the current year.

Institutional Trading of Apogee Enterprises

Several institutional investors have recently modified their holdings of APOG. Pacer Advisors Inc. boosted its position in shares of Apogee Enterprises by 15.5% in the 2nd quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock worth $57,620,000 after buying an additional 122,811 shares in the last quarter. American Century Companies Inc. increased its stake in shares of 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 acquiring an additional 99,495 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Apogee Enterprises during the 3rd quarter valued at about $6,845,000. Assenagon Asset Management S.A. increased its position in 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 worth $11,369,000 after purchasing an additional 67,295 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in 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 worth $4,567,000 after purchasing an additional 66,100 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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).