DA Davidson Issues Pessimistic Forecast for Apogee Enterprises (NASDAQ:APOG) Stock Price

Apogee Enterprises (NASDAQ:APOG) had its price target cut by investment analysts at DA Davidson from $75.00 to $62.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s price objective suggests a potential upside of 18.05% from the company’s previous close.

Separately, StockNews.com upgraded Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 1st.

Apogee Enterprises Stock Down 8.8 %

Shares of APOG opened at $52.52 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.15 billion, a P/E ratio of 11.06 and a beta of 1.04. The company’s 50-day moving average price is $77.45 and its 200 day moving average price is $70.72. Apogee Enterprises has a 12-month low of $51.15 and a 12-month high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The firm had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $332.27 million. During the same quarter in the prior year, the business posted $1.23 earnings per share. Apogee Enterprises’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts forecast that Apogee Enterprises will post 5.06 earnings per share for the current year.

Institutional Investors Weigh In On Apogee Enterprises

A number of large investors have recently added to or reduced their stakes in APOG. Gladius Capital Management LP acquired a new stake in shares of Apogee Enterprises in the 3rd quarter valued at about $33,000. GAMMA Investing LLC lifted its position in shares of Apogee Enterprises by 43.2% during the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $38,000 after buying an additional 163 shares in the last quarter. Quarry LP raised its holdings in shares of Apogee Enterprises by 959.4% in the 2nd quarter. Quarry LP now owns 731 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 662 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Apogee Enterprises in the 3rd quarter worth approximately $58,000. Finally, CWM LLC grew its stake in Apogee Enterprises by 19.9% in the 3rd quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock valued at $80,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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).