Apogee Enterprises, Inc. (APOG) Given Average Recommendation of “Buy” by Analysts
Shares of Apogee Enterprises, Inc. (NASDAQ:APOG) have been given an average recommendation of “Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $64.75.
A number of research analysts recently commented on APOG shares. ValuEngine raised Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Sidoti started coverage on Apogee Enterprises in a report on Thursday, May 25th. They issued a “buy” rating and a $70.00 price target on the stock. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Friday, April 21st. Finally, BidaskClub cut Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, July 13th.
In other Apogee Enterprises news, Director Jerome L. Davis sold 18,706 shares of Apogee Enterprises stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $55.04, for a total value of $1,029,578.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its stake in Apogee Enterprises by 0.3% in the second quarter. Creative Planning now owns 4,228 shares of the industrial products company’s stock worth $240,000 after buying an additional 11 shares during the last quarter. Pinebridge Investments L.P. increased its stake in Apogee Enterprises by 1.5% in the second quarter. Pinebridge Investments L.P. now owns 3,792 shares of the industrial products company’s stock worth $216,000 after buying an additional 55 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Apogee Enterprises by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,180 shares of the industrial products company’s stock worth $189,000 after buying an additional 60 shares during the last quarter. Profund Advisors LLC increased its stake in Apogee Enterprises by 1.1% in the second quarter. Profund Advisors LLC now owns 5,333 shares of the industrial products company’s stock worth $303,000 after buying an additional 60 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Apogee Enterprises by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 22,727 shares of the industrial products company’s stock worth $1,292,000 after buying an additional 83 shares during the last quarter.
Apogee Enterprises (APOG) traded down 3.38% during midday trading on Friday, reaching $47.42. 304,235 shares of the company’s stock traded hands. The stock has a market cap of $1.37 billion, a PE ratio of 16.24 and a beta of 1.56. Apogee Enterprises has a one year low of $39.88 and a one year high of $61.00. The stock’s 50 day moving average price is $52.96 and its 200-day moving average price is $55.29.
Apogee Enterprises (NASDAQ:APOG) last posted 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. Apogee Enterprises had a return on equity of 18.59% and a net margin of 7.39%. The business had revenue of $272.30 million during the quarter, compared to analysts’ expectations of $271.13 million. During the same period in the prior year, the firm posted $0.61 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities analysts predict that Apogee Enterprises will post $3.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, July 10th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, July 6th. Apogee Enterprises’s payout ratio is 19.24%.
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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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