Apogee Enterprises (APOG) Downgraded to Sell at BidaskClub

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BidaskClub cut shares of Apogee Enterprises (NASDAQ:APOG) from a hold rating to a sell rating in a research note published on Saturday.

A number of other brokerages have also issued reports on APOG. ValuEngine upgraded shares of Apogee Enterprises from a sell rating to a hold rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Apogee Enterprises from a hold rating to a buy rating and set a $55.00 price objective for the company in a report on Wednesday, July 4th. DA Davidson lowered shares of Apogee Enterprises from a buy rating to a neutral rating and raised their price objective for the company from $47.00 to $52.00 in a report on Friday, June 29th. They noted that the move was a valuation call. Finally, TheStreet upgraded shares of Apogee Enterprises from a c+ rating to a b rating in a report on Thursday, June 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Apogee Enterprises has an average rating of Hold and an average target price of $54.00.

Shares of NASDAQ APOG opened at $48.84 on Friday. The company has a market capitalization of $1.38 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.37 and a beta of 1.49. Apogee Enterprises has a 1 year low of $37.24 and a 1 year high of $51.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.68 and a quick ratio of 1.30.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Thursday, June 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.09. The business had revenue of $336.50 million during the quarter, compared to analyst estimates of $304.46 million. Apogee Enterprises had a net margin of 5.66% and a return on equity of 17.33%. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the business earned $0.56 EPS. analysts forecast that Apogee Enterprises will post 3.57 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ceredex Value Advisors LLC acquired a new stake in Apogee Enterprises during the 1st quarter valued at approximately $42,970,000. Engaged Capital LLC increased its position in Apogee Enterprises by 49.3% during the 2nd quarter. Engaged Capital LLC now owns 1,491,020 shares of the industrial products company’s stock valued at $71,822,000 after purchasing an additional 492,086 shares during the period. Royce & Associates LP increased its position in Apogee Enterprises by 57.4% during the 2nd quarter. Royce & Associates LP now owns 1,226,629 shares of the industrial products company’s stock valued at $59,087,000 after purchasing an additional 447,453 shares during the period. Rice Hall James & Associates LLC increased its position in Apogee Enterprises by 1,229.9% during the 2nd quarter. Rice Hall James & Associates LLC now owns 400,578 shares of the industrial products company’s stock valued at $19,296,000 after purchasing an additional 370,458 shares during the period. Finally, BlackRock Inc. increased its position in Apogee Enterprises by 6.7% during the 2nd quarter. BlackRock Inc. now owns 3,837,104 shares of the industrial products company’s stock valued at $184,833,000 after purchasing an additional 241,165 shares during the period. Institutional investors and hedge funds own 99.78% of the company’s stock.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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