StockNews.com Downgrades Apogee Enterprises (NASDAQ:APOG) to Buy

Apogee Enterprises (NASDAQ:APOG) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Separately, DA Davidson lifted their target price on 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 Trading Down 1.1 %

Apogee Enterprises stock traded down $0.92 during midday trading on Friday, reaching $82.03. The stock had a trading volume of 202,078 shares, compared to its average volume of 148,248. Apogee Enterprises has a twelve month low of $44.46 and a twelve month high of $87.93. 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 firm has a market cap of $1.80 billion, a price-to-earnings ratio of 17.27 and a beta of 0.97. The firm’s fifty day simple moving average is $74.66 and its two-hundred day simple moving average is $67.49.

Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.23 by $0.21. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The business had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $335.31 million. During the same quarter last year, the firm posted $1.36 earnings per share. Apogee Enterprises’s revenue was down 3.2% compared to the same quarter last year. Equities analysts anticipate that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Apogee Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted 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 worth $57,620,000 after purchasing an additional 122,811 shares during the period. American Century Companies Inc. lifted its stake in shares of Apogee Enterprises by 23.2% in the second quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock worth $33,225,000 after buying 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 3rd quarter worth $6,845,000. Assenagon Asset Management S.A. grew 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 buying an additional 67,295 shares during the last quarter. Finally, Renaissance Technologies LLC grew 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 buying an additional 66,100 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Apogee Enterprises

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).