Apogee Enterprises (NASDAQ:APOG) Downgraded by StockNews.com to “Buy”

Apogee Enterprises (NASDAQ:APOG) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, DA Davidson reduced their price objective on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday.

Apogee Enterprises Trading Down 8.8 %

Shares of NASDAQ:APOG opened at $52.52 on Thursday. The stock has a market cap of $1.15 billion, a PE ratio of 11.06 and a beta of 1.04. The business has a 50 day moving average of $77.90 and a 200-day moving average of $70.85. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. Apogee Enterprises has a 12-month low of $51.15 and a 12-month high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $332.27 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. Apogee Enterprises’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $1.23 earnings per share. As a group, equities research analysts forecast that Apogee Enterprises will post 5.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APOG. Pacer Advisors Inc. boosted its position in Apogee Enterprises by 15.5% during the second quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock worth $57,620,000 after purchasing an additional 122,811 shares during the period. Geode Capital Management LLC grew its stake in Apogee Enterprises by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock worth $37,131,000 after buying an additional 7,382 shares in the last quarter. American Century Companies Inc. increased its stake in Apogee Enterprises by 23.2% in the second quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock valued at $33,225,000 after acquiring an additional 99,495 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Apogee Enterprises by 70.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock worth $11,369,000 after purchasing an additional 67,295 shares in the last quarter. Finally, FMR LLC lifted its position in Apogee Enterprises by 12.5% in the 3rd quarter. FMR LLC now owns 104,690 shares of the industrial products company’s stock worth $7,330,000 after buying an additional 11,627 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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).