Apogee Enterprises (NASDAQ:APOG) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a buy rating to a strong-buy rating in a report published on Tuesday.

Separately, DA Davidson raised their price target on shares of Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th.

Apogee Enterprises Stock Performance

Shares of APOG opened at $78.99 on Tuesday. The firm’s 50 day moving average is $68.27 and its 200-day moving average is $64.49. The stock has a market capitalization of $1.73 billion, a P/E ratio of 16.22 and a beta of 0.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. Apogee Enterprises has a 12-month low of $41.01 and a 12-month high of $86.22.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Friday, October 4th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.21. The company had revenue of $342.40 million for the quarter, compared to analysts’ expectations of $335.31 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. Equities research analysts anticipate that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Apogee Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Tuesday, October 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, October 22nd. Apogee Enterprises’s payout ratio is 20.53%.

Hedge Funds Weigh In On Apogee Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Apogee Enterprises by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company’s stock valued at $165,429,000 after buying an additional 53,484 shares during the period. Los Angeles Capital Management LLC increased its holdings in Apogee Enterprises by 7.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 28,133 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 2,055 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Apogee Enterprises by 599.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,119 shares of the industrial products company’s stock valued at $66,000 after buying an additional 959 shares during the period. Principal Financial Group Inc. increased its holdings in Apogee Enterprises by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 122,891 shares of the industrial products company’s stock valued at $7,275,000 after buying an additional 2,522 shares during the period. Finally, Texas Permanent School Fund Corp increased its holdings in Apogee Enterprises by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 19,329 shares of the industrial products company’s stock valued at $1,144,000 after buying an additional 261 shares during the period. Institutional investors own 94.05% of the company’s stock.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).