Apogee Enterprises (NASDAQ:APOG) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts also recently weighed in on APOG. Wall Street Zen downgraded shares of Apogee Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 5th. Weiss Ratings upgraded shares of Apogee Enterprises from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Apogee Enterprises presently has an average rating of “Buy” and an average price target of $70.50.

Apogee Enterprises Stock Up 2.7%

Shares of APOG opened at $40.18 on Tuesday. The stock’s 50-day moving average price is $39.20 and its two-hundred day moving average price is $37.54. Apogee Enterprises has a 12 month low of $30.75 and a 12 month high of $50.88. The company has a market capitalization of $838.56 million, a PE ratio of 12.60, a PEG ratio of 1.10 and a beta of 1.13. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 0.46.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Friday, June 26th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The company had revenue of $342.68 million during the quarter, compared to analysts’ expectations of $333.84 million. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. On average, analysts anticipate that Apogee Enterprises will post 2.96 EPS for the current year.

Apogee Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Tuesday, July 14th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $1.08 annualized dividend and a dividend yield of 2.7%. Apogee Enterprises’s dividend payout ratio (DPR) is 33.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of APOG. Royal Bank of Canada boosted its stake in Apogee Enterprises by 40.3% during the first quarter. Royal Bank of Canada now owns 8,515 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 2,447 shares in the last quarter. AQR Capital Management LLC grew its holdings in Apogee Enterprises by 24.0% in the first quarter. AQR Capital Management LLC now owns 59,999 shares of the industrial products company’s stock worth $2,780,000 after purchasing an additional 11,608 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Apogee Enterprises by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,992 shares of the industrial products company’s stock valued at $602,000 after purchasing an additional 556 shares in the last quarter. Millennium Management LLC increased its stake in Apogee Enterprises by 1,074.3% in the first quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company’s stock valued at $14,836,000 after purchasing an additional 292,952 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Apogee Enterprises by 120.3% during the first quarter. Jane Street Group LLC now owns 79,281 shares of the industrial products company’s stock valued at $3,673,000 after purchasing an additional 43,297 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc is a diversified manufacturer and distributor of value-added architectural products and services. The company specializes in the design, fabrication and installation of high-performance glass, framing systems, curtain walls, skylights and other building envelope solutions. Its operations span three primary platforms—Architectural Framing Systems, Architectural Glass and Architectural Services—enabling Apogee to deliver complete, integrated façade systems for new construction, renovation and retrofit projects.

Headquartered in Minneapolis, Minnesota, Apogee traces its roots to the mid-20th century and today serves commercial, institutional and residential markets across North America and Europe.