Apogee Enterprises (NASDAQ:APOG) Cut to Buy at StockNews.com

StockNews.com lowered shares of Apogee Enterprises (NASDAQ:APOG) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

Separately, DA Davidson upped their price objective on Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th.

Apogee Enterprises Price Performance

Shares of NASDAQ APOG opened at $81.43 on Friday. The business’s 50 day moving average price is $75.05 and its 200 day moving average price is $67.69. The firm has a market cap of $1.79 billion, a P/E ratio of 17.14 and a beta of 0.97. Apogee Enterprises has a 52 week low of $44.46 and a 52 week high of $87.93. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12.

Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. The firm had revenue of $342.40 million for the quarter, compared to analyst estimates of $335.31 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. Apogee Enterprises’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 earnings per share. On average, sell-side analysts expect that Apogee Enterprises will post 5.06 earnings per share 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 $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 1.23%. Apogee Enterprises’s dividend payout ratio is presently 21.05%.

Institutional Investors Weigh In On Apogee Enterprises

Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake 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 buying an additional 122,811 shares during the period. Geode Capital Management LLC raised its stake in shares of Apogee Enterprises by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock worth $37,131,000 after buying an additional 7,382 shares during the period. American Century Companies Inc. raised 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 worth $33,225,000 after buying an additional 99,495 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Apogee Enterprises by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 303,220 shares of the industrial products company’s stock worth $19,053,000 after buying an additional 3,881 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake 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 worth $11,369,000 after buying an additional 67,295 shares during the period. 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).