Apogee Enterprises, Inc. (APOG) Given Average Rating of “Buy” by Brokerages
Apogee Enterprises, Inc. (NASDAQ:APOG) has received a consensus rating of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $64.75.
Several analysts recently issued reports on APOG shares. ValuEngine downgraded Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research upgraded Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $65.00 target price for the company in a research note on Monday, June 19th. Sidoti started coverage on Apogee Enterprises in a research note on Thursday, May 25th. They set a “buy” rating and a $70.00 target price for the company. Finally, BidaskClub downgraded Apogee Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th.
In other news, CEO Joseph F. Puishys sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was 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 can be accessed through this link. Also, Director Jerome L. Davis sold 18,706 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $55.04, for a total value of $1,029,578.24. The disclosure for this sale can be found here. Insiders have sold 198,706 shares of company stock valued at $11,114,178 over the last 90 days. Insiders own 3.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in shares of Apogee Enterprises by 12.5% in the first quarter. Russell Investments Group Ltd. now owns 287,033 shares of the industrial products company’s stock valued at $17,108,000 after buying an additional 31,979 shares in the last quarter. 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 valued at $189,000 after buying an additional 60 shares in the last quarter. Geneva Advisors LLC bought a new position in shares of Apogee Enterprises during the first quarter valued at approximately $591,000. Thrivent Financial for Lutherans boosted its position in shares of Apogee Enterprises by 5.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,560 shares of the industrial products company’s stock valued at $833,000 after buying an additional 780 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Apogee Enterprises by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 651,833 shares of the industrial products company’s stock valued at $38,857,000 after buying an additional 16,093 shares during the last quarter.
Shares of Apogee Enterprises (NASDAQ:APOG) traded up 0.49% during trading on Tuesday, reaching $52.96. The company’s stock had a trading volume of 360,597 shares. Apogee Enterprises has a 52 week low of $39.88 and a 52 week high of $61.00. The company has a 50 day moving average price of $55.42 and a 200 day moving average price of $55.93. The firm has a market capitalization of $1.53 billion, a P/E ratio of 18.14 and a beta of 1.58.
Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by $0.09. Apogee Enterprises had a net margin of 7.39% and a return on equity of 18.59%. The company had revenue of $272.30 million during the quarter, compared to analyst estimates of $271.13 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Apogee Enterprises will post $3.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Monday, July 10th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, July 6th. This represents a $0.56 annualized dividend and a dividend yield of 1.06%. Apogee Enterprises’s dividend payout ratio is presently 19.24%.
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.
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