Apogee Enterprises Inc (APOG) Given $66.50 Average Target Price by Analysts
Apogee Enterprises Inc (NASDAQ:APOG) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12 month consensus price target of $66.50 for the company and are predicting that the company will post $0.72 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Apogee Enterprises an industry rank of 107 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded Apogee Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 20th. Sidoti assumed coverage on Apogee Enterprises in a research report on Thursday. They issued a “buy” rating on the stock.
Apogee Enterprises (NASDAQ:APOG) traded up 1.30% during mid-day trading on Friday, hitting $53.15. The company’s stock had a trading volume of 139,334 shares. Apogee Enterprises has a 52-week low of $39.88 and a 52-week high of $61.00. The stock has a market cap of $1.52 billion, a P/E ratio of 17.90 and a beta of 1.40. The company’s 50 day moving average is $54.02 and its 200-day moving average is $54.11.
Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Thursday, April 13th. The industrial products company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.08. Apogee Enterprises had a return on equity of 19.12% and a net margin of 7.77%. The business had revenue of $314.13 million for the quarter, compared to the consensus estimate of $291.18 million. During the same period in the previous year, the business earned $0.69 earnings per share. The business’s revenue was up 19.8% on a year-over-year basis. On average, equities analysts predict that Apogee Enterprises will post $3.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, May 17th. Apogee Enterprises’s payout ratio is presently 19.65%.
In other news, CEO Joseph F. Puishys sold 40,000 shares of Apogee Enterprises stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $56.06, for a total transaction of $2,242,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 180,000 shares of company stock worth $10,084,600. Corporate insiders own 3.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in APOG. Sit Investment Associates Inc. purchased a new stake in Apogee Enterprises during the third quarter valued at approximately $1,312,000. Tygh Capital Management Inc. increased its stake in Apogee Enterprises by 14.5% in the third quarter. Tygh Capital Management Inc. now owns 113,717 shares of the industrial products company’s stock valued at $5,082,000 after buying an additional 14,443 shares during the period. New York State Common Retirement Fund increased its stake in Apogee Enterprises by 2.1% in the third quarter. New York State Common Retirement Fund now owns 62,983 shares of the industrial products company’s stock valued at $2,815,000 after buying an additional 1,300 shares during the period. Rhumbline Advisers increased its stake in Apogee Enterprises by 4.9% in the third quarter. Rhumbline Advisers now owns 40,661 shares of the industrial products company’s stock valued at $1,817,000 after buying an additional 1,900 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Apogee Enterprises by 26.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,026,148 shares of the industrial products company’s stock valued at $45,859,000 after buying an additional 214,182 shares during the period.
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About Apogee Enterprises
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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