Apogee Enterprises (APOG) Downgraded by BidaskClub

BidaskClub downgraded shares of Apogee Enterprises (NASDAQ:APOG) from a sell rating to a strong sell rating in a research note released on Thursday.

APOG has been the subject of a number of other reports. Zacks Investment Research upgraded Apogee Enterprises from a sell rating to a hold rating in a report on Wednesday, November 14th. TheStreet downgraded Apogee Enterprises from a b rating to a c+ rating in a report on Tuesday, October 2nd. DA Davidson set a $48.00 price objective on Apogee Enterprises and gave the stock a hold rating in a report on Wednesday, September 19th. ValuEngine upgraded Apogee Enterprises from a strong sell rating to a sell rating in a report on Wednesday, November 7th. Finally, Goldman Sachs Group started coverage on Apogee Enterprises in a report on Tuesday, October 2nd. They set a neutral rating and a $43.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Apogee Enterprises currently has a consensus rating of Hold and an average price target of $50.25.

Shares of APOG opened at $31.95 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.73 and a quick ratio of 1.33. The firm has a market capitalization of $900.41 million, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.00 and a beta of 1.47. Apogee Enterprises has a fifty-two week low of $31.90 and a fifty-two week high of $51.33.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Tuesday, September 18th. The industrial products company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.09). The business had revenue of $362.10 million during the quarter, compared to analyst estimates of $364.57 million. Apogee Enterprises had a net margin of 5.81% and a return on equity of 16.96%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. On average, analysts forecast that Apogee Enterprises will post 3.2 EPS for the current year.

Apogee Enterprises announced that its board has approved a share repurchase program on Wednesday, October 3rd that permits the company to buyback 2,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Herbert K. Parker acquired 7,000 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was acquired at an average cost of $33.38 per share, for a total transaction of $233,660.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Apogee Enterprises during the 2nd quarter worth $1,537,000. Millennium Management LLC acquired a new stake in Apogee Enterprises in the 2nd quarter valued at $523,000. Glenmede Trust Co. NA increased its holdings in Apogee Enterprises by 3.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 835,930 shares of the industrial products company’s stock valued at $40,267,000 after purchasing an additional 24,677 shares in the last quarter. Sei Investments Co. increased its holdings in Apogee Enterprises by 509.0% in the 2nd quarter. Sei Investments Co. now owns 59,659 shares of the industrial products company’s stock valued at $2,873,000 after purchasing an additional 49,863 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in Apogee Enterprises by 57.4% in the 2nd quarter. Royce & Associates LP now owns 1,226,629 shares of the industrial products company’s stock valued at $59,087,000 after purchasing an additional 447,453 shares in the last quarter. Institutional investors and hedge funds own 98.32% of the company’s stock.

About Apogee Enterprises

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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