Apogee Enterprises (APOG) Rating Increased to Sell at ValuEngine

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Apogee Enterprises (NASDAQ:APOG) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Wednesday.

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

NASDAQ APOG traded down $0.88 on Wednesday, reaching $38.13. The company’s stock had a trading volume of 15,357 shares, compared to its average volume of 254,659. Apogee Enterprises has a twelve month low of $33.10 and a twelve month high of $51.33. The company has a current ratio of 1.73, a quick ratio of 1.33 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.20 and a beta of 1.52.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Tuesday, September 18th. The industrial products company reported $0.75 earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $364.57 million. During the same period in the previous year, the company posted $0.60 earnings per share. Apogee Enterprises’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Apogee Enterprises will post 3.2 earnings per share for the current year.

Apogee Enterprises announced that its board has approved a share repurchase plan on Wednesday, October 3rd that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

In other news, Director Herbert K. Parker acquired 7,000 shares of Apogee Enterprises stock in a transaction on Monday, October 29th. The stock was bought at an average cost of $33.38 per share, with a total value of $233,660.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of APOG. Dynamic Technology Lab Private Ltd acquired a new position in shares of Apogee Enterprises in the 2nd quarter valued at about $1,537,000. Glenmede Trust Co. NA increased its holdings in shares of Apogee Enterprises by 3.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 835,930 shares of the industrial products company’s stock valued at $40,267,000 after purchasing an additional 24,677 shares during the period. Sei Investments Co. increased its holdings in shares of Apogee Enterprises by 509.0% in the 2nd quarter. Sei Investments Co. now owns 59,659 shares of the industrial products company’s stock valued at $2,873,000 after purchasing an additional 49,863 shares during the period. Royce & Associates LP increased its holdings in shares of Apogee Enterprises by 57.4% in the 2nd quarter. Royce & Associates LP now owns 1,226,629 shares of the industrial products company’s stock valued at $59,087,000 after purchasing an additional 447,453 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Apogee Enterprises by 6.7% in the 2nd quarter. BlackRock Inc. now owns 3,837,104 shares of the industrial products company’s stock valued at $184,833,000 after purchasing an additional 241,165 shares during the period. 99.16% of the stock is owned by institutional investors.

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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