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

Apogee Enterprises (NASDAQ:APOGGet Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

Separately, DA Davidson raised their price objective on shares of Apogee Enterprises from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, June 28th.

Read Our Latest Report on APOG

Apogee Enterprises Stock Performance

Shares of APOG stock traded up $0.52 on Wednesday, hitting $58.89. 206,845 shares of the stock were exchanged, compared to its average volume of 149,785. Apogee Enterprises has a one year low of $41.01 and a one year high of $67.92. The firm’s 50 day moving average is $63.35 and its two-hundred day moving average is $58.67. The firm has a market capitalization of $1.30 billion, a PE ratio of 12.09 and a beta of 1.00. The company has a current ratio of 1.64, a quick ratio of 1.29 and a debt-to-equity ratio of 0.16.

Apogee Enterprises (NASDAQ:APOGGet Free Report) last announced its quarterly earnings results on Thursday, June 27th. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.28. Apogee Enterprises had a net margin of 7.72% and a return on equity of 24.74%. The company had revenue of $331.50 million for the quarter, compared to analysts’ expectations of $333.22 million. During the same period in the prior year, the company posted $1.05 EPS. Apogee Enterprises’s revenue was down 8.3% compared to the same quarter last year. Sell-side analysts expect that Apogee Enterprises will post 4.86 earnings per share for the current fiscal year.

Insider Transactions at Apogee Enterprises

In other news, insider Troy R. Johnson sold 12,000 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $61.06, for a total transaction of $732,720.00. Following the transaction, the insider now directly owns 33,433 shares in the company, valued at approximately $2,041,418.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Apogee Enterprises news, insider Troy R. Johnson sold 12,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $61.06, for a total transaction of $732,720.00. Following the completion of the sale, the insider now directly owns 33,433 shares in the company, valued at $2,041,418.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lloyd Emerson Johnson sold 24,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $63.13, for a total value of $1,515,120.00. Following the sale, the director now owns 260 shares of the company’s stock, valued at $16,413.80. The disclosure for this sale can be found here. Insiders have sold 77,252 shares of company stock valued at $4,786,214 in the last quarter. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Apogee Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in Apogee Enterprises in the fourth quarter worth $31,000. Headlands Technologies LLC raised its holdings in Apogee Enterprises by 340.8% in the 1st quarter. Headlands Technologies LLC now owns 767 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 593 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Apogee Enterprises by 31.4% in the 1st quarter. EntryPoint Capital LLC now owns 929 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 222 shares during the period. CWM LLC boosted its stake in shares of Apogee Enterprises by 290.6% during the 2nd quarter. CWM LLC now owns 957 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 712 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Apogee Enterprises by 599.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,119 shares of the industrial products company’s stock valued at $66,000 after buying an additional 959 shares during the period. 94.05% of the stock is owned by institutional investors.

Apogee Enterprises Company Profile

(Get Free Report)

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).

See Also

Receive News & Ratings for Apogee Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apogee Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.