Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week Low - What's Next?

Shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $48.95 and last traded at $49.32, with a volume of 82311 shares. The stock had previously closed at $49.65.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on APOG. StockNews.com lowered Apogee Enterprises from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 9th. Singular Research raised Apogee Enterprises to a "moderate buy" rating in a research report on Tuesday, January 14th. DA Davidson lowered their price objective on Apogee Enterprises from $75.00 to $62.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Finally, Sidoti raised Apogee Enterprises from a "neutral" rating to a "buy" rating in a research report on Friday, January 10th.

Apogee Enterprises Price Performance

The stock has a 50-day moving average price of $60.98 and a two-hundred day moving average price of $68.80. The company has a current ratio of 1.63, a quick ratio of 1.27 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 11.06 and a beta of 1.01.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.08. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The company had revenue of $341.30 million during the quarter, compared to analysts' expectations of $332.27 million. During the same quarter in the previous year, the firm posted $1.23 EPS. The firm's revenue was up .5% compared to the same quarter last year. As a group, equities research analysts forecast that Apogee Enterprises, Inc. will post 4.97 EPS for the current year.

Apogee Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Tuesday, January 28th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.10%. This is a boost from Apogee Enterprises's previous quarterly dividend of $0.25. Apogee Enterprises's payout ratio is currently 23.21%.

Hedge Funds Weigh In On Apogee Enterprises

Institutional investors and hedge funds have recently modified their holdings of the stock. Endeavor Private Wealth Inc. acquired a new position in shares of Apogee Enterprises in the 4th quarter valued at about $32,000. Gladius Capital Management LP acquired a new position in shares of Apogee Enterprises in the 3rd quarter valued at about $33,000. New Age Alpha Advisors LLC acquired a new position in shares of Apogee Enterprises in the 4th quarter valued at about $40,000. Meeder Asset Management Inc. acquired a new position in shares of Apogee Enterprises in the 4th quarter valued at about $57,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Apogee Enterprises in the 3rd quarter valued at about $58,000. Institutional investors and hedge funds 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).