Apogee Enterprises (NASDAQ:APOG) Trading Down 5.4% on Analyst Downgrade

Apogee Enterprises, Inc. (NASDAQ:APOG) shares dropped 5.4% on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $38.02 and last traded at $38.1350. Approximately 7,136 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 251,026 shares. The stock had previously closed at $40.33.

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

Institutional Investors Weigh In On Apogee Enterprises

A number of hedge funds have recently bought and sold shares of APOG. BlackRock Inc. bought a new position in shares of Apogee Enterprises in the second quarter worth about $155,501,000. Vanguard Group Inc. grew its holdings in Apogee Enterprises by 6.8% in the 4th quarter. Vanguard Group Inc. now owns 2,627,223 shares of the industrial products company’s stock valued at $95,657,000 after buying an additional 166,402 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Apogee Enterprises by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,063,485 shares of the industrial products company’s stock valued at $35,668,000 after buying an additional 78,200 shares during the last quarter. California State Teachers Retirement System increased its position in Apogee Enterprises by 4,321.7% in 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 buying an additional 866,751 shares during the period. Finally, State Street Corp increased its position in Apogee Enterprises by 1.8% in the 4th quarter. State Street Corp now owns 833,781 shares of the industrial products company’s stock worth $30,358,000 after buying an additional 14,673 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Apogee Enterprises Trading Up 1.3%

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.76 and a quick ratio of 1.34. The company has a market capitalization of $794.24 million, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.06 and a beta of 1.14. The business has a fifty day moving average price of $41.18 and a 200 day moving average price of $38.23.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Friday, June 26th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. The business had revenue of $342.68 million for the quarter, compared to the consensus estimate of $333.84 million. Apogee Enterprises had a net margin of 4.88% and a return on equity of 14.72%. Apogee Enterprises’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.13) earnings per share. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. On average, equities analysts expect that Apogee Enterprises, Inc. will post 2.96 EPS for the current fiscal year.

Apogee Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Tuesday, July 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, July 14th. Apogee Enterprises’s dividend payout ratio (DPR) is currently 33.86%.

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.