Apogee Enterprises (NASDAQ:APOG) Shares Gap Down - Here's What Happened

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $71.13, but opened at $64.82. Apogee Enterprises shares last traded at $60.58, with a volume of 165,419 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on APOG shares. DA Davidson increased their price target on Apogee Enterprises from $65.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Apogee Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, January 1st.

Apogee Enterprises Trading Down 19.0 %

The company's 50 day moving average price is $78.37 and its 200 day moving average price is $70.98. The firm has a market cap of $1.26 billion, a PE ratio of 12.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32.

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

Institutional Investors Weigh In On Apogee Enterprises

Hedge funds have recently modified their holdings of the stock. TD Asset Management Inc increased its position in shares of Apogee Enterprises by 6.2% in the second quarter. TD Asset Management Inc now owns 32,500 shares of the industrial products company's stock valued at $2,042,000 after buying an additional 1,900 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Apogee Enterprises by 12.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 31,639 shares of the industrial products company's stock worth $1,988,000 after purchasing an additional 3,506 shares in the last quarter. Gallacher Capital Management LLC acquired a new stake in shares of Apogee Enterprises in the second quarter worth $219,000. Acadian Asset Management LLC purchased a new position in Apogee Enterprises in the second quarter valued at about $3,547,000. Finally, Quest Partners LLC grew its stake in shares of Apogee Enterprises by 115,311.1% in the second quarter. Quest Partners LLC now owns 10,387 shares of the industrial products company's stock valued at $653,000 after buying an additional 10,378 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

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).