Apogee Enterprises (NASDAQ:APOG) Stock Rating Lowered by Zacks Research

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

A number of other equities research analysts have also weighed in on APOG. 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. Wall Street Zen raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Apogee Enterprises Stock Performance

Shares of APOG stock opened at $37.59 on Monday. The firm has a market capitalization of $784.50 million, a price-to-earnings ratio of 11.78, a PEG ratio of 1.10 and a beta of 1.14. The stock has a fifty day moving average of $41.26 and a 200 day moving average of $38.25. Apogee Enterprises has a 52 week low of $30.75 and a 52 week high of $50.88. 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 issued its quarterly earnings data on Friday, June 26th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Apogee Enterprises had a net margin of 4.88% and a return on equity of 14.72%. The business had revenue of $342.68 million for the quarter, compared to the consensus estimate of $333.84 million. During the same period in the previous year, the firm earned ($0.13) EPS. The company’s quarterly 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, research analysts expect that Apogee Enterprises will post 2.96 earnings per share for the current year.

Hedge Funds Weigh In On Apogee Enterprises

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Apogee Enterprises by 40.3% during the first quarter. Royal Bank of Canada now owns 8,515 shares of the industrial products company’s stock valued at $395,000 after buying an additional 2,447 shares during the period. AQR Capital Management LLC grew its position in shares of Apogee Enterprises by 24.0% in the 1st quarter. AQR Capital Management LLC now owns 59,999 shares of the industrial products company’s stock worth $2,780,000 after buying an additional 11,608 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Apogee Enterprises by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,992 shares of the industrial products company’s stock worth $602,000 after buying an additional 556 shares during the period. Millennium Management LLC increased its stake in shares of Apogee Enterprises by 1,074.3% in 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. Finally, Jane Street Group LLC increased its stake in shares of Apogee Enterprises by 120.3% in the 1st quarter. Jane Street Group LLC now owns 79,281 shares of the industrial products company’s stock worth $3,673,000 after acquiring an additional 43,297 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

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.