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

Apogee Enterprises (NASDAQ:APOG) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Several other research analysts have also issued reports on the stock. Wall Street Zen raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings raised shares of Apogee Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Apogee Enterprises Stock Down 3.8%

Shares of NASDAQ:APOG opened at $37.59 on Monday. Apogee Enterprises has a 12 month low of $30.75 and a 12 month high of $50.88. The company’s 50-day moving average price is $41.26 and its two-hundred day moving average price is $38.25. The firm has a market cap of $784.50 million, a P/E ratio of 11.78, a P/E/G ratio of 1.10 and a beta of 1.14. 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 (NASDAQ:APOG) last released its earnings results on Friday, June 26th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. The company had revenue of $342.68 million during the quarter, compared to the consensus estimate of $333.84 million. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) earnings per share. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. As a group, research analysts forecast that Apogee Enterprises will post 2.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Apogee Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of APOG. BlackRock Inc. bought a new stake in Apogee Enterprises in the 2nd quarter valued at approximately $155,501,000. California State Teachers Retirement System grew its stake in shares of Apogee Enterprises by 4,321.7% during the 2nd quarter. California State Teachers Retirement System now owns 886,807 shares of the industrial products company’s stock worth $40,563,000 after acquiring an additional 866,751 shares in the last quarter. Millennium Management LLC grew its stake in shares of Apogee Enterprises by 1,074.3% during the 1st quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company’s stock worth $14,836,000 after acquiring an additional 292,952 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Apogee Enterprises by 524.3% in the fourth quarter. Federated Hermes Inc. now owns 228,361 shares of the industrial products company’s stock valued at $8,315,000 after purchasing an additional 191,783 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Apogee Enterprises by 6.8% in the fourth quarter. Vanguard Group Inc. now owns 2,627,223 shares of the industrial products company’s stock valued at $95,657,000 after purchasing an additional 166,402 shares during the last quarter. Institutional investors and hedge funds 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.