DA Davidson Analysts Give Apogee Enterprises Inc. (APOG) a $56.00 Price Target
Several other brokerages have also recently commented on APOG. Zacks Investment Research cut Apogee Enterprises from a buy rating to a hold rating in a research report on Tuesday, August 23rd. Goldman Sachs Group Inc. cut Apogee Enterprises from a buy rating to a neutral rating and dropped their target price for the company from $53.00 to $50.00 in a report on Monday, July 11th.
Apogee Enterprises (NASDAQ:APOG) opened at 44.32 on Tuesday. The stock’s 50 day moving average price is $47.45 and its 200 day moving average price is $44.62. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 16.41 and a beta of 1.49. Apogee Enterprises has a 52 week low of $33.67 and a 52 week high of $58.29.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Wednesday, September 14th. The company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Apogee Enterprises had a return on equity of 18.68% and a net margin of 7.65%. The firm earned $278.50 million during the quarter. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, analysts forecast that Apogee Enterprises will post $2.84 earnings per share for the current year.
In other news, Director Bernard P. Aldrich sold 6,072 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $47.23, for a total value of $286,780.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James S. Porter sold 2,500 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $46.14, for a total value of $115,350.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in APOG. Vanguard Group Inc. raised its position in shares of Apogee Enterprises by 1.1% in the second quarter. Vanguard Group Inc. now owns 2,309,515 shares of the company’s stock valued at $107,046,000 after buying an additional 24,410 shares during the period. BlackRock Fund Advisors raised its position in Apogee Enterprises by 1.5% in the second quarter. BlackRock Fund Advisors now owns 1,812,287 shares of the company’s stock valued at $84,000,000 after buying an additional 25,971 shares during the last quarter. State Street Corp raised its position in Apogee Enterprises by 0.9% in the first quarter. State Street Corp now owns 1,015,758 shares of the company’s stock valued at $44,582,000 after buying an additional 9,466 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Apogee Enterprises by 4.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 811,966 shares of the company’s stock valued at $37,635,000 after buying an additional 31,323 shares during the last quarter. Finally, RS Investment Management Co. LLC raised its position in Apogee Enterprises by 1.3% in the second quarter. RS Investment Management Co. LLC now owns 692,137 shares of the company’s stock valued at $32,081,000 after buying an additional 8,984 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.
About Apogee Enterprises
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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