Stock Repurchase Plan Initiated by Apogee Enterprises (APOG) Board
Apogee Enterprises (NASDAQ:APOG) announced that its board has authorized a share buyback program, which permits the company to repurchase 1,000,000 shares on Tuesday, January 9th, EventVestor reports. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Apogee Enterprises (NASDAQ APOG) opened at $46.08 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.79 and a quick ratio of 1.34. The company has a market capitalization of $1,320.00, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.62. Apogee Enterprises has a 12 month low of $40.03 and a 12 month high of $61.00.
Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Thursday, December 21st. The industrial products company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.14). The company had revenue of $356.50 million during the quarter, compared to analysts’ expectations of $373.35 million. Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. Apogee Enterprises’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. equities analysts predict that Apogee Enterprises will post 3.05 earnings per share for the current fiscal year.
A number of research firms recently weighed in on APOG. BidaskClub upgraded Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Zacks Investment Research upgraded Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $63.33.
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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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