Apogee Enterprises (NASDAQ:APOG) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. ValuEngine downgraded Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Apogee Enterprises has a consensus rating of “Buy” and an average price target of $61.00.
Apogee Enterprises (NASDAQ APOG) opened at $45.93 on Friday. Apogee Enterprises has a twelve month low of $40.03 and a twelve month high of $59.98. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $1,305.19, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 1.12 and a beta of 1.57.
Apogee Enterprises declared that its Board of Directors has approved a stock repurchase plan on Tuesday, January 9th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Sara L. Hays sold 2,229 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $45.46, for a total value of $101,330.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in APOG. Deprince Race & Zollo Inc. grew its stake in shares of Apogee Enterprises by 346.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,058,950 shares of the industrial products company’s stock worth $48,426,000 after acquiring an additional 821,580 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Apogee Enterprises by 130.4% in the third quarter. American Century Companies Inc. now owns 369,475 shares of the industrial products company’s stock worth $17,831,000 after acquiring an additional 209,092 shares during the last quarter. DnB Asset Management AS acquired a new stake in shares of Apogee Enterprises in the fourth quarter worth $6,325,000. Thompson Siegel & Walmsley LLC grew its stake in shares of Apogee Enterprises by 57.8% in the third quarter. Thompson Siegel & Walmsley LLC now owns 362,788 shares of the industrial products company’s stock worth $17,508,000 after acquiring an additional 132,902 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its stake in shares of Apogee Enterprises by 16.5% in the fourth quarter. Glenmede Trust Co. NA now owns 811,253 shares of the industrial products company’s stock worth $37,096,000 after acquiring an additional 114,840 shares during the last quarter. Institutional investors and hedge funds own 98.70% of the company’s stock.
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About Apogee Enterprises
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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