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

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

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

Apogee Enterprises Stock Performance

APOG opened at $71.73 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.65. The company has a market cap of $1.57 billion, a PE ratio of 15.10 and a beta of 0.99. The stock has a 50-day moving average of $80.09 and a 200-day moving average of $70.07. Apogee Enterprises has a 52-week low of $50.78 and a 52-week 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, topping analysts’ consensus estimates of $1.23 by $0.21. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The firm had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $335.31 million. During the same quarter in the prior year, the business earned $1.36 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Apogee Enterprises will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, October 22nd. Apogee Enterprises’s dividend payout ratio (DPR) is currently 21.05%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Pacer Advisors Inc. raised its position in shares of Apogee Enterprises by 15.5% during the second quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock valued at $57,620,000 after buying an additional 122,811 shares during the last quarter. American Century Companies Inc. increased its stake in Apogee Enterprises by 23.2% during the second 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 period. Hotchkis & Wiley Capital Management LLC acquired a new position in Apogee Enterprises in the 3rd quarter valued at approximately $6,845,000. Assenagon Asset Management S.A. raised its holdings in Apogee Enterprises by 70.8% in 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 acquiring an additional 67,295 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of 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 worth $4,567,000 after acquiring an additional 66,100 shares during the period. 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).