Sidoti Upgrades Apogee Enterprises (NASDAQ:APOG) to Buy

Apogee Enterprises (NASDAQ:APOG) was upgraded by stock analysts at Sidoti from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat reports.

Several other brokerages also recently commented on APOG. DA Davidson dropped their target price on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com lowered Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Apogee Enterprises Stock Down 3.4 %

Apogee Enterprises stock opened at $50.75 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.65. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 10.68 and a beta of 1.04. Apogee Enterprises has a fifty-two week low of $50.67 and a fifty-two week high of $87.93. The stock’s fifty day moving average is $76.95 and its two-hundred day moving average is $70.73.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share 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 for the quarter, compared to the consensus estimate of $332.27 million. During the same period in the prior year, the business posted $1.23 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts predict that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Institutional Trading of Apogee Enterprises

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new stake in shares of Apogee Enterprises in the 2nd quarter worth $3,547,000. Kingsview Wealth Management LLC bought a new stake in shares of Apogee Enterprises in the 3rd quarter worth $2,134,000. Renaissance Technologies LLC raised its stake in shares of Apogee Enterprises by 1,004.1% in the 2nd quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock worth $4,567,000 after buying an additional 66,100 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Apogee Enterprises by 2,602.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $95,000 after buying an additional 1,301 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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. Institutional investors 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).