Apogee Enterprises, Inc. (NASDAQ:APOG) Stock Rating Upgraded by ValuEngine
Apogee Enterprises, Inc. (NASDAQ:APOG) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.
Several other research firms also recently weighed in on APOG. Zacks Investment Research upgraded shares of Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a research report on Monday, June 19th. Sidoti assumed coverage on shares of Apogee Enterprises in a research report on Thursday, May 25th. They set a “buy” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $61.80.
Apogee Enterprises (APOG) traded up 0.47% during midday trading on Thursday, reaching $55.16. The company’s stock had a trading volume of 243,661 shares. The stock’s 50 day moving average price is $54.64 and its 200-day moving average price is $55.61. Apogee Enterprises has a one year low of $39.88 and a one year high of $61.00. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 18.89 and a beta of 1.58.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.71 by $0.09. Apogee Enterprises had a return on equity of 18.59% and a net margin of 7.39%. The company had revenue of $272.30 million for the quarter, compared to analyst estimates of $271.13 million. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts forecast that Apogee Enterprises will post $3.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, July 10th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.02%. Apogee Enterprises’s payout ratio is 19.24%.
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In other news, CEO Joseph F. Puishys sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $55.97, for a total transaction of $5,597,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 180,000 shares of company stock valued at $10,084,600. 3.70% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Apogee Enterprises during the first quarter worth about $146,000. State of Alaska Department of Revenue increased its stake in shares of Apogee Enterprises by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,180 shares of the industrial products company’s stock worth $189,000 after buying an additional 60 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Apogee Enterprises during the first quarter worth about $234,000. Intrust Bank NA increased its stake in shares of Apogee Enterprises by 8.5% in the first quarter. Intrust Bank NA now owns 4,282 shares of the industrial products company’s stock worth $255,000 after buying an additional 336 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Apogee Enterprises by 5.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 4,490 shares of the industrial products company’s stock worth $268,000 after buying an additional 241 shares in the last quarter.
Apogee Enterprises Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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