Sidoti Upgrades Apogee Enterprises (NASDAQ:APOG) to Buy

Sidoti upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a neutral rating to a buy rating in a research report report published on Friday morning, Marketbeat.com reports.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday. DA Davidson reduced their target price on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday.

Apogee Enterprises Stock Down 3.4 %

Shares of APOG opened at $50.75 on Friday. 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 business has a fifty day moving average of $77.45 and a 200 day moving average of $70.72. The company has a market cap of $1.11 billion, a PE ratio of 10.68 and a beta of 1.04. Apogee Enterprises has a 52-week low of $50.67 and a 52-week high of $87.93.

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

Apogee Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Tuesday, January 28th will be paid a $0.26 dividend. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Tuesday, January 28th. Apogee Enterprises’s dividend payout ratio is currently 21.05%.

Institutional Trading of Apogee Enterprises

Several institutional investors and hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP bought a new position in Apogee Enterprises in the third quarter worth approximately $33,000. GAMMA Investing LLC grew its position in shares of Apogee Enterprises by 43.2% during the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $38,000 after buying an additional 163 shares in the last quarter. Quarry LP increased its stake in shares of Apogee Enterprises by 959.4% during the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock valued at $46,000 after buying an additional 662 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Apogee Enterprises in the third quarter valued at about $58,000. Finally, CWM LLC lifted its stake in Apogee Enterprises by 19.9% in the third quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 190 shares during the period. Institutional investors own 94.05% of the company’s stock.

Apogee Enterprises Company Profile

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).