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

StockNews.com lowered shares of Apogee Enterprises (NASDAQ:APOG - Free Report) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

Separately, 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 note on Tuesday, October 8th.

Apogee Enterprises Stock Performance

Apogee Enterprises stock traded down $2.39 during mid-day trading on Tuesday, reaching $74.80. 145,691 shares of the stock traded hands, compared to its average volume of 147,259. Apogee Enterprises has a 12-month low of $50.75 and a 12-month high of $87.93. The business's 50-day moving average is $80.32 and its 200-day moving average is $70.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. The stock has a market capitalization of $1.64 billion, a PE ratio of 15.75 and a beta of 0.99.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last issued its quarterly earnings data on Friday, October 4th. The industrial products company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.21. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm had revenue of $342.40 million for the quarter, compared to analysts' expectations of $335.31 million. During the same quarter in the prior year, the business earned $1.36 EPS. The business's quarterly revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Apogee Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 1.34%. Apogee Enterprises's payout ratio is 21.05%.

Hedge Funds Weigh In On Apogee Enterprises

Several institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position 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 valued at $57,620,000 after purchasing an additional 122,811 shares during the period. American Century Companies Inc. increased its position 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 valued at $33,225,000 after purchasing an additional 99,495 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Apogee Enterprises during the 3rd quarter valued at $6,845,000. Assenagon Asset Management S.A. lifted its position in Apogee Enterprises by 70.8% in the third quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company's stock worth $11,369,000 after buying an additional 67,295 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Apogee Enterprises by 1,004.1% in the second quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company's stock worth $4,567,000 after buying an additional 66,100 shares during the last quarter. Hedge funds and other 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).