Apogee Enterprises (NASDAQ:APOG) Raised to Strong-Buy at Zacks Research

Apogee Enterprises (NASDAQ:APOG) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

APOG has been the subject of a number of other reports. Weiss Ratings raised shares of Apogee Enterprises from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 2nd. Wall Street Zen downgraded shares of Apogee Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Apogee Enterprises currently has an average rating of “Buy” and an average price target of $70.50.

Apogee Enterprises Stock Performance

Shares of NASDAQ APOG opened at $40.18 on Tuesday. The stock’s fifty day simple moving average is $39.20 and its 200 day simple moving average is $37.54. The stock has a market capitalization of $838.56 million, a price-to-earnings ratio of 12.60, a PEG ratio of 1.10 and a beta of 1.13. The company has a quick ratio of 1.34, a current ratio of 1.76 and a debt-to-equity ratio of 0.46. Apogee Enterprises has a 52-week low of $30.75 and a 52-week high of $50.88.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Friday, June 26th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The business had revenue of $342.68 million during the quarter, compared to the consensus estimate of $333.84 million. During the same period in the prior year, the business posted ($0.13) earnings per share. Apogee Enterprises’s revenue was down 1.1% compared to the same quarter last year. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. As a group, sell-side analysts forecast that Apogee Enterprises will post 2.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apogee Enterprises

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in Apogee Enterprises by 40.3% during the 1st quarter. Royal Bank of Canada now owns 8,515 shares of the industrial products company’s stock valued at $395,000 after acquiring an additional 2,447 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Apogee Enterprises by 24.0% in the first quarter. AQR Capital Management LLC now owns 59,999 shares of the industrial products company’s stock worth $2,780,000 after purchasing an additional 11,608 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Apogee Enterprises by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,992 shares of the industrial products company’s stock worth $602,000 after purchasing an additional 556 shares during the period. Millennium Management LLC boosted its holdings in shares of Apogee Enterprises by 1,074.3% during the first quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company’s stock worth $14,836,000 after purchasing an additional 292,952 shares during the period. Finally, Jane Street Group LLC grew its position in Apogee Enterprises by 120.3% during the first quarter. Jane Street Group LLC now owns 79,281 shares of the industrial products company’s stock valued at $3,673,000 after purchasing an additional 43,297 shares in the last quarter. 94.05% of the stock is 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.