Apogee Enterprises (APOG) Upgraded to Hold by BidaskClub

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BidaskClub upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a sell rating to a hold rating in a report published on Wednesday morning.

APOG has been the topic of a number of other reports. Zacks Investment Research upgraded Apogee Enterprises from a sell rating to a hold rating in a report on Wednesday, November 14th. ValuEngine upgraded Apogee Enterprises from a strong sell rating to a sell rating in a report on Friday, February 8th. Finally, Craig Hallum set a $48.00 price objective on Apogee Enterprises and gave the company a buy rating in a report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $48.50.

APOG stock opened at $36.95 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.75 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $988.66 million, a PE ratio of 11.92, a P/E/G ratio of 1.16 and a beta of 1.58. Apogee Enterprises has a 1 year low of $26.38 and a 1 year high of $50.87.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings results on Thursday, December 20th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $357.70 million during the quarter, compared to analyst estimates of $362.40 million. Apogee Enterprises had a return on equity of 16.19% and a net margin of 5.68%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 earnings per share. Equities research analysts predict that Apogee Enterprises will post 3.13 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 20th. Investors of record on Tuesday, February 5th were issued a $0.175 dividend. The ex-dividend date was Monday, February 4th. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.16. This represents a $0.70 dividend on an annualized basis and a yield of 1.89%. Apogee Enterprises’s dividend payout ratio is currently 22.58%.

In other news, CFO James S. Porter purchased 2,000 shares of the firm’s stock in a transaction on Monday, December 24th. The shares were bought at an average cost of $28.10 per share, for a total transaction of $56,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph F. Puishys purchased 10,000 shares of the firm’s stock in a transaction on Monday, December 24th. The shares were purchased at an average price of $26.97 per share, for a total transaction of $269,700.00. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in APOG. Bessemer Group Inc. acquired a new position in Apogee Enterprises during the fourth quarter worth $45,000. First Bank & Trust lifted its stake in Apogee Enterprises by 73.1% during the fourth quarter. First Bank & Trust now owns 3,565 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 1,505 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Apogee Enterprises by 217.8% during the third quarter. Pacer Advisors Inc. now owns 4,545 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 3,115 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Apogee Enterprises during the fourth quarter worth $217,000. Finally, Alambic Investment Management L.P. acquired a new position in Apogee Enterprises during the third quarter worth $219,000. Institutional investors own 96.51% 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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