Apogee Enterprises, Inc. (APOG) Downgraded by BidaskClub
BidaskClub lowered shares of Apogee Enterprises, Inc. (NASDAQ:APOG) from a sell rating to a strong sell rating in a research note published on Friday.
Several other equities analysts have also recently issued reports on APOG. ValuEngine raised Apogee Enterprises from a hold rating to a buy rating in a report on Thursday, July 6th. Sidoti assumed coverage on Apogee Enterprises in a report on Thursday, May 25th. They issued a buy rating and a $70.00 price objective for the company. Finally, Zacks Investment Research raised Apogee Enterprises from a sell rating to a hold rating in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $64.75.
Apogee Enterprises (NASDAQ:APOG) traded up 0.490% during mid-day trading on Friday, reaching $52.345. The company had a trading volume of 3,676 shares. The firm has a market capitalization of $1.51 billion, a PE ratio of 17.926 and a beta of 1.58. The stock’s 50-day moving average price is $54.85 and its 200 day moving average price is $55.85. Apogee Enterprises has a 52 week low of $39.88 and a 52 week high of $61.00.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Thursday, June 22nd. The industrial products company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.09. The firm had revenue of $272.30 million for the quarter, compared to analyst estimates of $271.13 million. Apogee Enterprises had a return on equity of 18.59% and a net margin of 7.39%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 EPS. On average, equities research analysts predict that Apogee Enterprises will post $3.38 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, July 10th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $0.56 annualized dividend and a dividend yield of 1.08%. Apogee Enterprises’s dividend payout ratio is presently 19.24%.
In related news, Director Jerome L. Davis sold 18,706 shares of Apogee Enterprises stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $55.04, for a total value of $1,029,578.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph F. Puishys sold 100,000 shares of Apogee Enterprises stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $55.97, for a total value of $5,597,000.00. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund raised its stake in Apogee Enterprises by 1.3% in the second quarter. Texas Permanent School Fund now owns 21,012 shares of the industrial products company’s stock valued at $1,194,000 after buying an additional 272 shares during the period. SG Capital Management LLC purchased a new stake in Apogee Enterprises during the second quarter valued at approximately $38,239,000. Great West Life Assurance Co. Can raised its stake in Apogee Enterprises by 3.4% in the second quarter. Great West Life Assurance Co. Can now owns 42,067 shares of the industrial products company’s stock valued at $2,390,000 after buying an additional 1,386 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Apogee Enterprises during the second quarter valued at approximately $368,000. Finally, Janney Capital Management LLC purchased a new stake in Apogee Enterprises during the second quarter valued at approximately $208,000.
Apogee Enterprises Company Profile
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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