Apogee Enterprises (NASDAQ:APOG) Stock Price Down 8.6% – Here’s What Happened

Apogee Enterprises, Inc. (NASDAQ:APOG)’s share price dropped 8.6% on Monday . The stock traded as low as $43.78 and last traded at $44.7150. 70,980 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 264,862 shares. The stock had previously closed at $48.92.

Analysts Set New Price Targets

APOG has been the topic of several research reports. Wall Street Zen raised shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research raised Apogee Enterprises from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Apogee Enterprises in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.50.

Apogee Enterprises Stock Down 6.3%

The stock’s fifty day moving average price is $37.63 and its 200-day moving average price is $37.28. The company has a quick ratio of 1.34, a current ratio of 1.76 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $978.66 million, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.42 and a beta of 1.18.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Friday, June 26th. The industrial products company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.43 by $0.14. The business had revenue of $342.68 million during the quarter, compared to analysts’ expectations of $333.84 million. Apogee Enterprises had a net margin of 4.88% and a return on equity of 14.72%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) earnings per share. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. On average, sell-side analysts predict that Apogee Enterprises, Inc. will post 2.88 earnings per share for the current fiscal year.

Apogee Enterprises Dividend Announcement

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 issued a $0.27 dividend. The ex-dividend date is Tuesday, July 14th. This represents a $1.08 annualized dividend and a dividend yield of 2.4%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 33.86%.

Institutional Trading of Apogee Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of APOG. Parallel Advisors LLC acquired a new position in Apogee Enterprises during the first quarter valued at approximately $30,000. Raymond James Financial Inc. acquired a new position in shares of Apogee Enterprises during the 2nd quarter worth approximately $38,000. PNC Financial Services Group Inc. raised its stake in shares of Apogee Enterprises by 38.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,065 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 296 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Apogee Enterprises in the 1st quarter valued at approximately $41,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Apogee Enterprises by 79.5% in the 4th quarter. Hantz Financial Services Inc. now owns 1,255 shares of the industrial products company’s stock valued at $46,000 after buying an additional 556 shares during the last quarter. Institutional investors 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.