Apogee Enterprises (NASDAQ:APOG) Trading Down 9.2% - Here's Why

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report)'s stock price traded down 9.2% on Wednesday . The company traded as low as $52.01 and last traded at $52.30. 128,135 shares changed hands during trading, a decline of 63% from the average session volume of 349,319 shares. The stock had previously closed at $57.60.

Analyst Ratings Changes

APOG has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Apogee Enterprises from a "buy" rating to a "strong-buy" rating in a report on Wednesday, January 1st. DA Davidson dropped their target price on shares of Apogee Enterprises from $75.00 to $62.00 and set a "neutral" rating for the company in a report on Wednesday.

Apogee Enterprises Stock Down 8.8 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. The stock has a market capitalization of $1.15 billion, a PE ratio of 11.06 and a beta of 1.04. The company has a 50 day moving average price of $78.37 and a 200-day moving average price of $70.98.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last issued its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The business had revenue of $341.30 million for the quarter, compared to the consensus estimate of $332.27 million. During the same period in the previous year, the firm earned $1.23 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts forecast that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Apogee Enterprises

A number of institutional investors have recently added to or reduced their stakes in APOG. Pacer Advisors Inc. boosted its stake in Apogee Enterprises by 15.5% during the second quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company's stock worth $57,620,000 after acquiring an additional 122,811 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Apogee Enterprises by 23.2% in the 2nd quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company's stock worth $33,225,000 after purchasing an additional 99,495 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Apogee Enterprises in the 3rd quarter worth approximately $6,845,000. Assenagon Asset Management S.A. increased its position in 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 valued at $11,369,000 after buying an additional 67,295 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Apogee Enterprises by 1,004.1% during the second quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company's stock valued at $4,567,000 after buying an additional 66,100 shares during the last quarter. 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).