Apogee Enterprises (NASDAQ:APOG) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday.

Other analysts have also issued research reports about the company. Goldman Sachs Group began coverage on Apogee Enterprises in a report on Tuesday, October 2nd. They set a “neutral” rating and a $43.00 price objective for the company. BidaskClub lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, August 4th. DA Davidson set a $48.00 price objective on Apogee Enterprises and gave the company a “hold” rating in a report on Wednesday, September 19th. Zacks Investment Research lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, TheStreet lowered Apogee Enterprises from a “b” rating to a “c+” rating in a report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.25.

Shares of APOG opened at $35.63 on Tuesday. Apogee Enterprises has a 12 month low of $33.10 and a 12 month high of $51.33. The company has a quick ratio of 1.33, a current ratio of 1.73 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1.02 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Tuesday, September 18th. The industrial products company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.09). Apogee Enterprises had a net margin of 5.81% and a return on equity of 16.96%. The business had revenue of $362.10 million for the quarter, compared to analysts’ expectations of $364.57 million. During the same quarter in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Apogee Enterprises will post 3.2 earnings per share for the current year.

Apogee Enterprises declared that its Board of Directors has initiated a share buyback program on Wednesday, October 3rd that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the industrial products company to reacquire 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.

In other news, Director Herbert K. Parker bought 7,000 shares of Apogee Enterprises stock in a transaction that occurred on Monday, October 29th. The stock was bought at an average price of $33.38 per share, for a total transaction of $233,660.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in Apogee Enterprises in the 2nd quarter worth $130,000. Point72 Hong Kong Ltd purchased a new position in Apogee Enterprises in the 2nd quarter worth $141,000. Itau Unibanco Holding S.A. purchased a new position in Apogee Enterprises in the 2nd quarter worth $162,000. First Interstate Bank raised its stake in Apogee Enterprises by 77.2% in the 2nd quarter. First Interstate Bank now owns 3,474 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 1,514 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Apogee Enterprises by 217.8% in the 3rd quarter. Pacer Advisors Inc. now owns 4,545 shares of the industrial products company’s stock worth $188,000 after acquiring an additional 3,115 shares during the last quarter. Institutional investors own 99.93% of the company’s stock.

About Apogee Enterprises

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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