Apogee Enterprises (APOG) Stock Rating Lowered by Goldman Sachs

Goldman Sachs cut shares of Apogee Enterprises (NASDAQ:APOG) from a neutral rating to a sell rating in a research report released on Wednesday, Marketbeat Ratings reports.

Several other equities research analysts also recently weighed in on APOG. BidaskClub downgraded shares of Apogee Enterprises from a hold rating to a sell rating in a research note on Thursday, December 14th. ValuEngine downgraded shares of Apogee Enterprises from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Apogee Enterprises from a sell rating to a hold rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $61.00.

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Shares of APOG opened at $42.15 on Wednesday. Apogee Enterprises has a twelve month low of $40.03 and a twelve month high of $59.76. The firm has a market capitalization of $1,197.78, a PE ratio of 13.73, a PEG ratio of 1.03 and a beta of 1.49. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45.

Apogee Enterprises declared that its board has approved a stock buyback program on Tuesday, January 9th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, Director Sara L. Hays sold 2,229 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $45.46, for a total value of $101,330.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of APOG. Deprince Race & Zollo Inc. increased its stake in Apogee Enterprises by 346.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,058,950 shares of the industrial products company’s stock worth $48,426,000 after buying an additional 821,580 shares during the period. DnB Asset Management AS purchased a new position in Apogee Enterprises in the 4th quarter worth about $6,325,000. Glenmede Trust Co. NA increased its stake in Apogee Enterprises by 16.5% in the 4th quarter. Glenmede Trust Co. NA now owns 811,253 shares of the industrial products company’s stock worth $37,096,000 after buying an additional 114,840 shares during the period. JPMorgan Chase & Co. increased its stake in Apogee Enterprises by 1,123.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 119,140 shares of the industrial products company’s stock worth $5,725,000 after buying an additional 109,398 shares during the period. Finally, Royce & Associates LP increased its stake in Apogee Enterprises by 12.1% in the 4th quarter. Royce & Associates LP now owns 849,898 shares of the industrial products company’s stock worth $38,866,000 after buying an additional 91,820 shares during the period. 99.76% of the stock is currently owned by institutional investors.

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Apogee Enterprises Company Profile

Apogee Enterprises, Inc designs and develops glass products and services in the United States, Canada, and Brazil. The company operates through four segments: Architectural Glass, Architectural Framing Systems, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated and high-performance glass used in customized windows and wall systems comprising the outside skin of commercial, institutional, and multi-family residential buildings.

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