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

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

Separately, DA Davidson upped their target price on shares of Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th.

Apogee Enterprises Price Performance

APOG opened at $77.19 on Tuesday. 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 $50.75 and a 12 month high of $87.93. The company has a fifty day simple moving average of $80.36 and a 200 day simple moving average of $69.97. The stock has a market cap of $1.69 billion, a P/E ratio of 16.25 and a beta of 0.99.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. The firm had revenue of $342.40 million during the quarter, compared to analyst estimates of $335.31 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 EPS. On average, research analysts expect that Apogee Enterprises will post 5.06 EPS for the current year.

Hedge Funds Weigh In On Apogee Enterprises

A number of large investors have recently modified their holdings of the business. Gladius Capital Management LP bought a new stake in shares of Apogee Enterprises in the 3rd quarter valued at about $33,000. GAMMA Investing LLC raised its holdings in shares of Apogee Enterprises by 43.2% in the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 163 shares during the period. 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 valued at $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 valued at about $58,000. Finally, CWM LLC raised its holdings in shares of Apogee Enterprises by 290.6% in the 2nd quarter. CWM LLC now owns 957 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 712 shares during the period. 94.05% of the stock is currently 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).