Apogee Enterprises (NASDAQ:APOG) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a buy rating to a strong-buy rating in a research report report published on Wednesday.

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

Apogee Enterprises Stock Performance

NASDAQ:APOG opened at $71.90 on Wednesday. Apogee Enterprises has a twelve month low of $51.15 and a twelve month high of $87.93. The company has a market capitalization of $1.58 billion, a P/E ratio of 15.14 and a beta of 1.04. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $78.84 and a two-hundred day moving average price of $70.80.

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

Institutional Trading of Apogee Enterprises

A number of hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in Apogee Enterprises during the 3rd quarter worth approximately $33,000. GAMMA Investing LLC raised its holdings in shares of Apogee Enterprises by 43.2% during the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 163 shares during the period. Quarry LP boosted its holdings in shares of Apogee Enterprises by 959.4% in the 2nd quarter. Quarry LP now owns 731 shares of the industrial products company’s stock valued at $46,000 after buying an additional 662 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Apogee Enterprises during the 3rd quarter valued at about $58,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Apogee Enterprises during the second quarter worth about $75,000. 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).