Apogee Enterprises (NASDAQ:APOG) Upgraded by StockNews.com to “Strong-Buy”

StockNews.com upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.

Separately, DA Davidson raised their price target on Apogee Enterprises from $60.00 to $65.00 and gave the company a neutral rating in a report on Friday, June 28th.

Apogee Enterprises Price Performance

Apogee Enterprises stock opened at $68.16 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.29. The company has a market capitalization of $1.49 billion, a PE ratio of 14.00 and a beta of 1.00. Apogee Enterprises has a one year low of $41.01 and a one year high of $69.00. The business has a 50 day simple moving average of $62.88 and a 200 day simple moving average of $59.61.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Thursday, June 27th. The industrial products company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.28. Apogee Enterprises had a return on equity of 24.74% and a net margin of 7.72%. The firm had revenue of $331.50 million during the quarter, compared to analysts’ expectations of $333.22 million. During the same period last year, the firm posted $1.05 EPS. The business’s revenue was down 8.3% on a year-over-year basis. On average, sell-side analysts forecast that Apogee Enterprises will post 4.86 EPS for the current fiscal year.

Apogee Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Wednesday, July 10th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.00 dividend on an annualized basis and a yield of 1.47%. Apogee Enterprises’s dividend payout ratio is 20.53%.

Insider Activity

In other news, insider Brent C. Jewell sold 5,000 shares of Apogee Enterprises stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $64.34, for a total value of $321,700.00. Following the completion of the sale, the insider now directly owns 23,405 shares of the company’s stock, valued at approximately $1,505,877.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brent C. Jewell sold 7,500 shares of Apogee Enterprises stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $61.79, for a total value of $463,425.00. Following the completion of the sale, the insider now directly owns 66 shares of the company’s stock, valued at approximately $4,078.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brent C. Jewell sold 5,000 shares of Apogee Enterprises stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $64.34, for a total value of $321,700.00. Following the completion of the sale, the insider now directly owns 23,405 shares of the company’s stock, valued at $1,505,877.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,727 shares of company stock valued at $3,196,443. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Apogee Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in shares of Apogee Enterprises by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the industrial products company’s stock worth $697,000 after purchasing an additional 200 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Apogee Enterprises by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 15,235 shares of the industrial products company’s stock worth $814,000 after purchasing an additional 211 shares during the last quarter. EntryPoint Capital LLC boosted its position in shares of Apogee Enterprises by 31.4% in the 1st quarter. EntryPoint Capital LLC now owns 929 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 222 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Apogee Enterprises by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 19,329 shares of the industrial products company’s stock worth $1,144,000 after purchasing an additional 261 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Apogee Enterprises by 0.3% in the 4th quarter. Panagora Asset Management Inc. now owns 133,870 shares of the industrial products company’s stock worth $7,150,000 after purchasing an additional 401 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).