Apogee Enterprises (NASDAQ:APOG) Upgraded by BidaskClub to “Hold”

Apogee Enterprises (NASDAQ:APOG) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, June 29th, BidAskClub reports.

Several other research firms have also recently issued reports on APOG. DA Davidson decreased their price target on Commerce Bancshares to $60.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Finally, Craig Hallum lowered Hydrogenics from a “buy” rating to a “hold” rating in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $43.33.

APOG traded up $0.12 during trading on Friday, reaching $40.39. 207,750 shares of the company were exchanged, compared to its average volume of 234,408. The firm has a market capitalization of $1.07 billion, a PE ratio of 13.65, a P/E/G ratio of 1.33 and a beta of 1.68. The business’s 50 day moving average price is $40.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.83. Apogee Enterprises has a 52 week low of $26.38 and a 52 week high of $50.87.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Thursday, June 27th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $355.40 million during the quarter, compared to analysts’ expectations of $324.39 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts forecast that Apogee Enterprises will post 3.04 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. bought a new position in Apogee Enterprises during the second quarter worth about $201,000. Amundi Pioneer Asset Management Inc. lifted its holdings in Apogee Enterprises by 2.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 49,058 shares of the industrial products company’s stock worth $1,840,000 after acquiring an additional 1,261 shares in the last quarter. First Trust Advisors LP lifted its holdings in Apogee Enterprises by 8.9% during the first quarter. First Trust Advisors LP now owns 95,029 shares of the industrial products company’s stock worth $3,563,000 after acquiring an additional 7,769 shares in the last quarter. FMR LLC lifted its holdings in Apogee Enterprises by 492.9% during the first quarter. FMR LLC now owns 147,702 shares of the industrial products company’s stock worth $5,537,000 after acquiring an additional 122,790 shares in the last quarter. Finally, Palouse Capital Management Inc. bought a new position in Apogee Enterprises during the first quarter worth about $258,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

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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