Apogee Enterprises (APOG) Lowered to “Hold” at BidaskClub

Apogee Enterprises (NASDAQ:APOG) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other research analysts have also issued research reports about the company. ValuEngine lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.00.

Apogee Enterprises (NASDAQ APOG) opened at $43.05 on Friday. The company has a market capitalization of $1,223.35, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.58. Apogee Enterprises has a 12-month low of $40.03 and a 12-month high of $61.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.79.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Thursday, December 21st. The industrial products company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). The firm had revenue of $356.50 million for the quarter, compared to analyst estimates of $373.35 million. Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. The company’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. equities analysts expect that Apogee Enterprises will post 3.05 EPS for the current year.

Apogee Enterprises declared that its board has initiated a share buyback plan on Tuesday, January 9th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

In other news, Director Sara L. Hays sold 2,229 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $45.46, for a total value of $101,330.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in APOG. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Apogee Enterprises by 79.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,486 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,100 shares during the period. Flinton Capital Management LLC increased its holdings in shares of Apogee Enterprises by 80.0% in the second quarter. Flinton Capital Management LLC now owns 3,060 shares of the industrial products company’s stock valued at $174,000 after purchasing an additional 1,360 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Apogee Enterprises in the third quarter valued at approximately $190,000. Advisor Group Inc. boosted its stake in shares of Apogee Enterprises by 76.9% in the second quarter. Advisor Group Inc. now owns 3,444 shares of the industrial products company’s stock valued at $195,000 after buying an additional 1,497 shares in the last quarter. Finally, Miles Capital Inc. purchased a new stake in shares of Apogee Enterprises in the fourth quarter valued at approximately $207,000. 98.98% of the stock is currently owned by institutional investors and hedge funds.

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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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