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.

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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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