Apogee Enterprises, Inc. (NASDAQ:APOG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Apogee Enterprises, Inc. (NASDAQ:APOG) has received an average rating of “Moderate Buy” from the four brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $47.00.

APOG has been the subject of a number of research analyst reports. Wall Street Zen raised Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Stephens assumed coverage on shares of Apogee Enterprises in a report on Tuesday. They set an “overweight” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Apogee Enterprises in a research report on Thursday, October 30th. Finally, DA Davidson raised shares of Apogee Enterprises from a “neutral” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Monday, November 17th.

Apogee Enterprises Price Performance

Shares of NASDAQ APOG traded up $0.40 during trading on Tuesday, hitting $40.34. The company had a trading volume of 173,565 shares, compared to its average volume of 228,980. The firm has a market capitalization of $867.71 million, a price-to-earnings ratio of 19.77 and a beta of 1.12. The stock has a fifty day simple moving average of $37.19 and a two-hundred day simple moving average of $40.36. The company has a quick ratio of 1.37, a current ratio of 1.76 and a debt-to-equity ratio of 0.54. Apogee Enterprises has a fifty-two week low of $32.77 and a fifty-two week high of $76.79.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Friday, October 10th. The industrial products company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.14. Apogee Enterprises had a net margin of 3.19% and a return on equity of 15.76%. The firm had revenue of $358.19 million during the quarter, compared to the consensus estimate of $350.91 million. During the same quarter in the prior year, the firm earned $1.44 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, research analysts expect that Apogee Enterprises will post 4.97 earnings per share for the current year.

Apogee Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, October 29th. Apogee Enterprises’s payout ratio is currently 50.98%.

Institutional Investors Weigh In On Apogee Enterprises

A number of hedge funds have recently modified their holdings of APOG. Segall Bryant & Hamill LLC raised its holdings in shares of Apogee Enterprises by 3.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 957,102 shares of the industrial products company’s stock valued at $41,701,000 after buying an additional 31,461 shares during the period. American Century Companies Inc. boosted its holdings in Apogee Enterprises by 3.9% during the 3rd quarter. American Century Companies Inc. now owns 825,322 shares of the industrial products company’s stock valued at $35,959,000 after acquiring an additional 31,090 shares during the period. Deprince Race & Zollo Inc. grew its position in Apogee Enterprises by 97.1% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 500,428 shares of the industrial products company’s stock valued at $21,804,000 after acquiring an additional 246,529 shares in the last quarter. LSV Asset Management increased its stake in Apogee Enterprises by 0.3% during the second quarter. LSV Asset Management now owns 483,000 shares of the industrial products company’s stock worth $19,610,000 after purchasing an additional 1,645 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Apogee Enterprises by 50.0% during the third quarter. Millennium Management LLC now owns 416,919 shares of the industrial products company’s stock worth $18,165,000 after purchasing an additional 139,014 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Apogee Enterprises

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).