BidaskClub Upgrades Apogee Enterprises (APOG) to “Buy”

Apogee Enterprises (NASDAQ:APOG) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday, March 30th, BidAskClub reports.

A number of other equities analysts have also commented on APOG. ValuEngine lowered shares of Apogee Enterprises from a “sell” rating to a “strong sell” rating in a report on Friday, December 21st. Craig Hallum set a $48.00 price target on shares of Apogee Enterprises and gave the stock a “buy” rating in a report on Friday, December 21st. Finally, Sidoti cut shares of Apogee Enterprises from a “buy” rating to a “neutral” rating in a research note on Monday, February 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Apogee Enterprises presently has a consensus rating of “Hold” and an average target price of $45.25.

Shares of NASDAQ:APOG traded down $0.18 during trading on Friday, reaching $39.17. The company had a trading volume of 398,840 shares, compared to its average volume of 348,566. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.22 and a beta of 1.62. Apogee Enterprises has a 12 month low of $26.38 and a 12 month high of $50.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.63 and a quick ratio of 1.38.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Thursday, April 11th. The industrial products company reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.06). The company had revenue of $346.26 million during the quarter, compared to the consensus estimate of $357.18 million. Apogee Enterprises had a return on equity of 16.14% and a net margin of 3.26%. During the same period in the previous year, the company earned $0.89 EPS. As a group, equities research analysts expect that Apogee Enterprises will post 3.1 EPS for the current year.

In other news, Director Jerome L. Davis sold 9,276 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $37.63, for a total value of $349,055.88. Following the completion of the sale, the director now owns 17,251 shares of the company’s stock, valued at approximately $649,155.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sara L. Hays sold 1,985 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $39.14, for a total transaction of $77,692.90. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in APOG. Bessemer Group Inc. purchased a new stake in Apogee Enterprises during the 4th quarter valued at $45,000. First Bank & Trust boosted its position in Apogee Enterprises by 73.1% during the 4th quarter. First Bank & Trust now owns 3,565 shares of the industrial products company’s stock valued at $106,000 after buying an additional 1,505 shares during the period. Pacer Advisors Inc. boosted its position in Apogee Enterprises by 217.8% during the 3rd quarter. Pacer Advisors Inc. now owns 4,545 shares of the industrial products company’s stock valued at $188,000 after buying an additional 3,115 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in Apogee Enterprises during the 4th quarter valued at $217,000. Finally, WINTON GROUP Ltd purchased a new stake in Apogee Enterprises during the 4th quarter valued at $246,000. 97.50% of the stock is owned by institutional investors and hedge funds.

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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