Apogee Enterprises (NASDAQ:APOG) Upgraded by Sidoti to “Buy” Rating

Sidoti upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a neutral rating to a buy rating in a research report released on Friday, MarketBeat.com reports.

Other analysts have also recently issued research reports about the company. DA Davidson cut their target price on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com lowered shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Apogee Enterprises Price Performance

NASDAQ APOG opened at $50.75 on Friday. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 10.68 and a beta of 1.04. Apogee Enterprises has a 12 month low of $50.67 and a 12 month high of $87.93. The company’s 50 day moving average is $77.45 and its two-hundred day moving average is $70.72. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The company had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $332.27 million. During the same quarter in the previous year, the company earned $1.23 EPS. Apogee Enterprises’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts anticipate that Apogee Enterprises will post 5.06 earnings per share for the current year.

Apogee Enterprises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th will be given a dividend of $0.26 per share. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.05%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 21.05%.

Hedge Funds Weigh In On Apogee Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of Apogee Enterprises by 15.5% during the 2nd quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock worth $57,620,000 after acquiring an additional 122,811 shares in the last quarter. Geode Capital Management LLC raised its stake in Apogee Enterprises by 1.4% during the third quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock valued at $37,131,000 after purchasing an additional 7,382 shares in the last quarter. American Century Companies Inc. lifted its position in Apogee Enterprises by 23.2% during the second quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock valued at $33,225,000 after purchasing an additional 99,495 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Apogee Enterprises by 70.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock worth $11,369,000 after buying an additional 67,295 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Apogee Enterprises by 12.5% in the 3rd quarter. FMR LLC now owns 104,690 shares of the industrial products company’s stock worth $7,330,000 after buying an additional 11,627 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

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).