Apogee Enterprises (NASDAQ:APOG) Price Target Lowered to $62.00 at DA Davidson

Apogee Enterprises (NASDAQ:APOG - Free Report) had its price objective lowered by DA Davidson from $75.00 to $62.00 in a report published on Wednesday,Benzinga reports. DA Davidson currently has a neutral rating on the industrial products company's stock.

Separately, StockNews.com upgraded Apogee Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, January 1st.

Apogee Enterprises Trading Down 8.8 %

Shares of NASDAQ APOG traded down $5.08 during midday trading on Wednesday, reaching $52.52. 771,402 shares of the stock were exchanged, compared to its average volume of 490,340. 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 has a 12 month low of $51.15 and a 12 month high of $87.93. The business has a 50-day simple moving average of $77.90 and a two-hundred day simple moving average of $70.85. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 11.06 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last posted its earnings results 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 return on equity of 24.12% and a net margin of 7.58%. The firm had revenue of $341.30 million during the quarter, compared to analysts' expectations of $332.27 million. During the same period in the previous year, the firm earned $1.23 earnings per share. The company's revenue was up .5% on a year-over-year basis. As a group, equities research analysts expect that Apogee Enterprises will post 5.06 EPS for the current year.

Hedge Funds Weigh In On Apogee Enterprises

Several hedge funds have recently modified their holdings of APOG. Pacer Advisors Inc. increased its holdings 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 buying an additional 122,811 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Apogee Enterprises by 23.2% during 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 during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Apogee Enterprises in the 3rd quarter valued at about $6,845,000. Assenagon Asset Management S.A. lifted its stake 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 purchasing an additional 67,295 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in 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 valued at $4,567,000 after purchasing 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).