Apogee Enterprises (APOG) Downgraded to Hold at BidaskClub

Apogee Enterprises (NASDAQ:APOG) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

APOG has been the subject of a number of other research reports. Zacks Investment Research raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. ValuEngine downgraded shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.00.

Shares of Apogee Enterprises (NASDAQ APOG) opened at $42.03 on Friday. The firm has a market cap of $1,194.67, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.38 and a beta of 1.58. 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 has a 52-week low of $40.03 and a 52-week high of $61.00.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Thursday, December 21st. The industrial products company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). The firm had revenue of $356.50 million for the quarter, compared to analyst estimates of $373.35 million. Apogee Enterprises had a net margin of 6.24% and a return on equity of 17.99%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. equities research analysts forecast that Apogee Enterprises will post 3.05 earnings per share for the current fiscal year.

Apogee Enterprises announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 9th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are often 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 that occurred on Thursday, January 25th. The shares were sold at an average price of $45.46, for a total transaction of $101,330.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of Apogee Enterprises by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,727 shares of the industrial products company’s stock worth $1,292,000 after buying an additional 83 shares during the period. Amalgamated Bank grew its position in shares of Apogee Enterprises by 4.6% during the 2nd quarter. Amalgamated Bank now owns 3,929 shares of the industrial products company’s stock worth $223,000 after buying an additional 171 shares during the period. M&T Bank Corp grew its position in shares of Apogee Enterprises by 5.2% during the 2nd quarter. M&T Bank Corp now owns 4,971 shares of the industrial products company’s stock worth $283,000 after buying an additional 244 shares during the period. FDx Advisors Inc. grew its position in shares of Apogee Enterprises by 12.5% during the 3rd quarter. FDx Advisors Inc. now owns 9,653 shares of the industrial products company’s stock worth $466,000 after buying an additional 1,070 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Apogee Enterprises by 79.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,486 shares of the industrial products company’s stock worth $120,000 after buying an additional 1,100 shares during the period. 98.98% of the stock is owned by institutional investors.

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Apogee Enterprises Company Profile

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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