StockNews.com Downgrades Apogee Enterprises (NASDAQ:APOG) to Buy

Apogee Enterprises (NASDAQ:APOG) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

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

Apogee Enterprises Price Performance

Shares of APOG opened at $71.89 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. Apogee Enterprises has a fifty-two week low of $50.78 and a fifty-two week high of $87.93. The company has a market cap of $1.58 billion, a P/E ratio of 15.13 and a beta of 0.99. The firm’s 50 day moving average price is $80.20 and its 200 day moving average price is $70.06.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The company had revenue of $342.40 million for the quarter, compared to analyst estimates of $335.31 million. During the same quarter last year, the company earned $1.36 EPS. Apogee Enterprises’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts forecast that Apogee Enterprises will post 5.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Apogee Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP acquired a new position in shares of Apogee Enterprises in the third quarter worth $33,000. GAMMA Investing LLC grew its position in shares of Apogee Enterprises by 43.2% in the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 163 shares during the period. Quarry LP increased its stake in Apogee Enterprises by 959.4% in the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 662 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Apogee Enterprises during the third quarter worth about $58,000. Finally, CWM LLC boosted its stake in Apogee Enterprises by 290.6% in the 2nd quarter. CWM LLC now owns 957 shares of the industrial products company’s stock worth $60,000 after buying an additional 712 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

About Apogee Enterprises

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).