Apogee Enterprises (NASDAQ:APOG – Get Rating) issued its earnings results on Tuesday. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.23, Briefing.com reports. The business had revenue of $372.10 million for the quarter, compared to analysts’ expectations of $342.84 million. Apogee Enterprises had a return on equity of 17.91% and a net margin of 1.15%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. Apogee Enterprises updated its FY 2023 guidance to $3.75-$4.05 EPS and its FY23 guidance to $3.75-4.05 EPS.
Apogee Enterprises Stock Down 2.1 %
Shares of APOG stock opened at $40.57 on Thursday. Apogee Enterprises has a 12 month low of $35.96 and a 12 month high of $50.44. The firm has a market cap of $898.91 million, a PE ratio of 58.80 and a beta of 1.07. The stock has a 50 day moving average of $41.37 and a 200-day moving average of $42.72. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.80.
Insider Transactions at Apogee Enterprises
In other news, insider Brent C. Jewell sold 1,313 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $37.88, for a total transaction of $49,736.44. Following the completion of the transaction, the insider now directly owns 23,111 shares in the company, valued at $875,444.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Brent C. Jewell sold 1,313 shares of the company’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $37.88, for a total value of $49,736.44. Following the completion of the transaction, the insider now directly owns 23,111 shares in the company, valued at $875,444.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gary Robert Johnson sold 2,187 shares of the company’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $40.00, for a total value of $87,480.00. Following the completion of the transaction, the senior vice president now owns 36,600 shares of the company’s stock, valued at $1,464,000. The disclosure for this sale can be found here. Corporate insiders own 1.82% of the company’s stock.
Institutional Inflows and Outflows
Analyst Ratings Changes
APOG has been the subject of a number of recent analyst reports. StockNews.com raised Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 14th. TheStreet raised Apogee Enterprises from a “c+” rating to a “b-” rating in a research report on Thursday, June 23rd. Finally, Craig Hallum cut their price target on Apogee Enterprises from $47.00 to $43.00 and set a “hold” rating for the company in a report on Friday, June 24th.
About Apogee Enterprises
Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window; curtain wall; storefront; and entrance systems, such as the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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