StockNews.com Downgrades Apogee Enterprises (NASDAQ:APOG) to Buy

Apogee Enterprises (NASDAQ:APOG) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Separately, DA Davidson raised their price objective on Apogee Enterprises from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th.

Apogee Enterprises Trading Down 1.1 %

Apogee Enterprises stock opened at $82.03 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. The stock has a market cap of $1.80 billion, a P/E ratio of 17.27 and a beta of 0.97. The firm’s 50 day moving average price is $74.66 and its 200-day moving average price is $67.53. Apogee Enterprises has a 1 year low of $44.46 and a 1 year high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.21. The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate of $335.31 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. On average, equities analysts predict that Apogee Enterprises will post 5.06 earnings per share for the current fiscal year.

Institutional Trading of Apogee Enterprises

A number of hedge funds have recently bought and sold shares of APOG. Gladius Capital Management LP acquired a new position in shares of Apogee Enterprises in the third quarter valued at approximately $33,000. GAMMA Investing LLC increased its position in Apogee Enterprises by 43.2% during the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $38,000 after buying an additional 163 shares during the period. Headlands Technologies LLC boosted its stake in Apogee Enterprises by 340.8% during the 1st quarter. Headlands Technologies LLC now owns 767 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 593 shares during the period. Quarry LP boosted its stake in shares of Apogee Enterprises by 959.4% during the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock worth $46,000 after buying an additional 662 shares during the period. Finally, EntryPoint Capital LLC increased its holdings in shares of Apogee Enterprises by 31.4% in the first quarter. EntryPoint Capital LLC now owns 929 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Apogee Enterprises

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).