BidaskClub Upgrades Apogee Enterprises (NASDAQ:APOG) to Hold

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BidaskClub upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a sell rating to a hold rating in a research report report published on Thursday, BidAskClub reports.

APOG has been the subject of several other reports. TheStreet downgraded Apogee Enterprises from a b- rating to a c+ rating in a research report on Tuesday, August 27th. ValuEngine raised Apogee Enterprises from a sell rating to a hold rating in a research report on Tuesday, September 17th. Finally, Craig Hallum lifted their target price on Apogee Enterprises from $46.00 to $52.00 and gave the company a buy rating in a research report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $43.50.

NASDAQ APOG opened at $37.58 on Thursday. The company has a market cap of $988.10 million, a P/E ratio of 12.70, a P/E/G ratio of 1.13 and a beta of 1.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.05 and a quick ratio of 0.85. The stock has a 50-day moving average of $38.62 and a two-hundred day moving average of $39.05. Apogee Enterprises has a 1-year low of $26.38 and a 1-year high of $46.70.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, September 17th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.15. The company had revenue of $357.10 million during the quarter, compared to the consensus estimate of $353.62 million. Apogee Enterprises had a return on equity of 15.92% and a net margin of 3.14%. Apogee Enterprises’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. On average, analysts anticipate that Apogee Enterprises will post 3.04 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Monday, October 21st will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, October 18th. Apogee Enterprises’s dividend payout ratio is currently 23.65%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APOG. Hollencrest Capital Management purchased a new position in shares of Apogee Enterprises in the 3rd quarter valued at about $253,000. Rhumbline Advisers boosted its stake in shares of Apogee Enterprises by 1.2% in the 3rd quarter. Rhumbline Advisers now owns 82,897 shares of the industrial products company’s stock valued at $3,232,000 after buying an additional 999 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Apogee Enterprises by 125.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 20,374 shares of the industrial products company’s stock valued at $794,000 after buying an additional 11,333 shares during the period. River & Mercantile Asset Management LLP purchased a new position in shares of Apogee Enterprises in the 2nd quarter valued at about $30,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Apogee Enterprises by 60.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,699 shares of the industrial products company’s stock valued at $117,000 after buying an additional 1,014 shares during the period. 90.33% of the stock is owned by institutional investors.

About Apogee Enterprises

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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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