Apogee Enterprises (NASDAQ:APOG) Shares Gap Down – What’s Next?

Apogee Enterprises, Inc. (NASDAQ:APOG) gapped down prior to trading on Tuesday . The stock had previously closed at $71.13, but opened at $64.82. Apogee Enterprises shares last traded at $60.58, with a volume of 165,419 shares changing hands.

Wall Street Analyst Weigh In

APOG has been the subject of several research reports. StockNews.com lowered Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday. DA Davidson reduced their target price on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday.

Apogee Enterprises Stock Performance

The firm’s 50-day moving average price is $77.90 and its two-hundred day moving average price is $70.85. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.15 billion, a PE ratio of 11.06 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $332.27 million. During the same period in the previous year, the company posted $1.23 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts predict that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.98%. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s payout ratio is presently 21.05%.

Hedge Funds Weigh In On Apogee Enterprises

A number of large investors have recently made changes to their positions in APOG. Gladius Capital Management LP purchased a new position in Apogee Enterprises during the third quarter valued at approximately $33,000. GAMMA Investing LLC grew its holdings in shares of Apogee Enterprises by 43.2% during the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 163 shares in the last quarter. Quarry LP increased its stake in shares of Apogee Enterprises by 959.4% in the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 662 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Apogee Enterprises during the third quarter worth $58,000. Finally, CWM LLC boosted its position in Apogee Enterprises by 19.9% during the third quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds 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).