Apogee Enterprises (NASDAQ:APOG) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Apogee Enterprises (NASDAQ:APOG) from a hold rating to a sell rating in a report released on Saturday, BidAskClub reports.

Several other research analysts have also issued reports on the company. Craig Hallum lowered Hydrogenics from a buy rating to a hold rating in a research report on Friday, June 28th. ValuEngine raised Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. DA Davidson reduced their target price on Commerce Bancshares to $60.00 and set a neutral rating for the company in a report on Friday, April 12th. Finally, TheStreet raised Select Medical from a c+ rating to a b- rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $43.33.

Apogee Enterprises stock opened at $42.57 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.47. Apogee Enterprises has a one year low of $26.38 and a one year high of $50.87. The stock has a market capitalization of $1.13 billion, a PE ratio of 14.38, a PEG ratio of 1.42 and a beta of 1.68. The firm’s fifty day simple moving average is $40.14.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Thursday, June 27th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Apogee Enterprises had a return on equity of 16.04% and a net margin of 3.22%. The business had revenue of $355.40 million for the quarter, compared to the consensus estimate of $324.39 million. During the same quarter in the previous year, the company posted $0.62 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Apogee Enterprises will post 3.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, July 15th. Apogee Enterprises’s dividend payout ratio is presently 23.65%.

A number of institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its stake in Apogee Enterprises by 105.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 937 shares of the industrial products company’s stock valued at $35,000 after buying an additional 481 shares in the last quarter. Versant Capital Management Inc boosted its position in Apogee Enterprises by 475.4% in the first quarter. Versant Capital Management Inc now owns 1,053 shares of the industrial products company’s stock valued at $39,000 after buying an additional 870 shares in the last quarter. Bessemer Group Inc. acquired a new position in Apogee Enterprises in the fourth quarter valued at about $45,000. Cutler Group LP acquired a new position in Apogee Enterprises in the first quarter valued at about $48,000. Finally, ETF Managers Group LLC boosted its position in Apogee Enterprises by 460.1% in the first quarter. ETF Managers Group LLC now owns 3,327 shares of the industrial products company’s stock valued at $125,000 after buying an additional 2,733 shares in the last quarter. Institutional investors own 97.72% of the company’s stock.

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.

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