Apogee Enterprises (NASDAQ:APOG) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Apogee Enterprises (NASDAQ:APOG) from a hold rating to a strong sell rating in a report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Apogee Enterprises in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $70.50.

Apogee Enterprises Stock Up 1.8%

Shares of NASDAQ:APOG opened at $35.86 on Wednesday. The stock has a market cap of $765.61 million, a P/E ratio of 14.23, a P/E/G ratio of 1.03 and a beta of 1.17. The firm has a fifty day moving average price of $34.83 and a 200 day moving average price of $36.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.65 and a quick ratio of 1.28. Apogee Enterprises has a 1-year low of $30.75 and a 1-year high of $49.99.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Friday, April 24th. The industrial products company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $351.35 million during the quarter, compared to analysts’ expectations of $335.98 million. Apogee Enterprises had a net margin of 3.85% and a return on equity of 14.89%. Apogee Enterprises’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. Sell-side analysts predict that Apogee Enterprises will post 2.85 EPS for the current year.

Apogee Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Wednesday, May 13th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, May 13th. Apogee Enterprises’s payout ratio is presently 42.86%.

Institutional Investors Weigh In On Apogee Enterprises

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Apogee Enterprises by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 2,627,223 shares of the industrial products company’s stock worth $95,657,000 after purchasing an additional 166,402 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Apogee Enterprises by 7.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,063,485 shares of the industrial products company’s stock worth $35,668,000 after purchasing an additional 78,200 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Apogee Enterprises by 3.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 957,102 shares of the industrial products company’s stock worth $41,701,000 after purchasing an additional 31,461 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Apogee Enterprises by 70.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 852,351 shares of the industrial products company’s stock worth $31,034,000 after purchasing an additional 351,923 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Apogee Enterprises by 1.8% during the 4th quarter. State Street Corp now owns 833,781 shares of the industrial products company’s stock worth $30,358,000 after purchasing an additional 14,673 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

About Apogee Enterprises

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.