BidaskClub upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a hold rating to a buy rating in a research report sent to investors on Thursday.
Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Apogee Enterprises from a buy rating to a hold rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Apogee Enterprises from a sell rating to a hold rating in a report on Tuesday, November 21st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Apogee Enterprises currently has a consensus rating of Buy and a consensus target price of $61.00.
Shares of Apogee Enterprises (NASDAQ:APOG) opened at $44.40 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. Apogee Enterprises has a fifty-two week low of $40.03 and a fifty-two week high of $61.00. The firm has a market cap of $1,262.58, a PE ratio of 15.97, a PEG ratio of 1.46 and a beta of 1.58.
Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Thursday, December 21st. The industrial products company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.14). Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. The firm had revenue of $356.50 million during the quarter, compared to the consensus estimate of $373.35 million. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. research analysts expect that Apogee Enterprises will post 3.05 earnings per share for the current year.
Apogee Enterprises announced that its Board of Directors has approved a share repurchase program on Tuesday, January 9th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, January 30th were issued a dividend of $0.1575 per share. The ex-dividend date was Monday, January 29th. This represents a $0.63 dividend on an annualized basis and a yield of 1.42%. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.14. Apogee Enterprises’s dividend payout ratio is currently 22.66%.
In other Apogee Enterprises news, Director Sara L. Hays sold 2,229 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $45.46, for a total transaction of $101,330.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.70% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of APOG. Deprince Race & Zollo Inc. grew its holdings in Apogee Enterprises by 346.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,058,950 shares of the industrial products company’s stock worth $48,426,000 after acquiring an additional 821,580 shares during the last quarter. American Century Companies Inc. lifted its position in Apogee Enterprises by 130.4% during the 3rd quarter. American Century Companies Inc. now owns 369,475 shares of the industrial products company’s stock valued at $17,831,000 after purchasing an additional 209,092 shares during the period. Fisher Asset Management LLC acquired a new position in Apogee Enterprises during the 3rd quarter valued at about $6,805,000. DnB Asset Management AS acquired a new position in Apogee Enterprises during the 4th quarter valued at about $6,325,000. Finally, Thompson Siegel & Walmsley LLC lifted its position in Apogee Enterprises by 57.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 362,788 shares of the industrial products company’s stock valued at $17,508,000 after purchasing an additional 132,902 shares during the period. 99.59% of the stock is currently owned by hedge funds and other institutional investors.
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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