Apogee Enterprises (NASDAQ:APOG) Stock Rating Lowered by StockNews.com

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

Separately, DA Davidson lifted their price objective on Apogee Enterprises from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th.

Apogee Enterprises Stock Performance

NASDAQ APOG opened at $71.73 on Tuesday. The stock has a market cap of $1.57 billion, a P/E ratio of 15.10 and a beta of 0.99. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. Apogee Enterprises has a twelve month low of $50.78 and a twelve month high of $87.93. The company’s 50-day simple moving average is $80.09 and its 200 day simple moving average is $70.07.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Friday, October 4th. The industrial products company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.21. The company had revenue of $342.40 million for the quarter, compared to analyst estimates of $335.31 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. As a group, research analysts forecast that Apogee Enterprises will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Tuesday, October 22nd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Tuesday, October 22nd. Apogee Enterprises’s payout ratio is 21.05%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in Apogee Enterprises by 15.5% during the 2nd 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 in the last quarter. American Century Companies Inc. grew its holdings in shares of Apogee Enterprises by 23.2% during the second 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 during the third quarter worth $6,845,000. Assenagon Asset Management S.A. increased its stake in shares of 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 valued at $11,369,000 after buying an additional 67,295 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of 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 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).