Apogee Enterprises, Inc. (APOG) Sees Significant Decrease in Short Interest
Apogee Enterprises, Inc. (NASDAQ:APOG) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 3,483,248 shares, a decline of 21.4% from the August 15th total of 4,433,301 shares. Based on an average trading volume of 554,438 shares, the short-interest ratio is presently 6.3 days. Approximately 12.4% of the company’s stock are short sold.
In other Apogee Enterprises news, Director Jerome L. Davis sold 18,706 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $55.04, for a total value of $1,029,578.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Koch Industries Inc. acquired a new position in Apogee Enterprises during the second quarter worth $309,000. Piedmont Investment Advisors LLC acquired a new position in Apogee Enterprises during the second quarter worth $354,000. Westwood Holdings Group Inc. increased its holdings in Apogee Enterprises by 44.7% during the second quarter. Westwood Holdings Group Inc. now owns 350,265 shares of the industrial products company’s stock worth $19,909,000 after buying an additional 108,165 shares during the last quarter. ZPR Investment Management increased its holdings in Apogee Enterprises by 9.4% during the second quarter. ZPR Investment Management now owns 61,375 shares of the industrial products company’s stock worth $3,489,000 after buying an additional 5,295 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Apogee Enterprises by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,727 shares of the industrial products company’s stock worth $1,292,000 after buying an additional 83 shares during the last quarter.
Several analysts recently issued reports on APOG shares. Zacks Investment Research downgraded shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Monday, August 28th. ValuEngine raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Sidoti started coverage on shares of Apogee Enterprises in a report on Thursday, May 25th. They set a “buy” rating and a $70.00 price objective for the company. BidaskClub downgraded shares of Apogee Enterprises from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, DA Davidson set a $52.00 price objective on shares of Apogee Enterprises and gave the stock a “buy” rating in a report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Apogee Enterprises has a consensus rating of “Hold” and a consensus price target of $63.75.
Shares of Apogee Enterprises (APOG) opened at 44.80 on Friday. The company’s 50 day moving average is $47.33 and its 200 day moving average is $53.38. Apogee Enterprises has a 12-month low of $39.88 and a 12-month high of $61.00. The company has a market capitalization of $1.29 billion, a P/E ratio of 15.34 and a beta of 1.61.
Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.09). The firm had revenue of $272.30 million for the quarter, compared to analyst estimates of $271.13 million. Apogee Enterprises had a return on equity of 18.59% and a net margin of 7.39%. Apogee Enterprises’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Analysts expect that Apogee Enterprises will post $3.11 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/09/16/apogee-enterprises-inc-apog-sees-significant-decrease-in-short-interest.html.
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.
Receive News & Ratings for Apogee Enterprises Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apogee Enterprises Inc. and related companies with MarketBeat.com's FREE daily email newsletter.