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

Apogee Enterprises (NASDAQ:APOG) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

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

Apogee Enterprises Stock Up 0.2 %

NASDAQ APOG traded up $0.14 during trading on Wednesday, reaching $71.41. 127,180 shares of the company’s stock traded hands, compared to its average volume of 149,740. Apogee Enterprises has a 12-month low of $51.15 and a 12-month high of $87.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 15.03 and a beta of 0.99. The company’s 50 day simple moving average is $79.04 and its two-hundred day simple moving average is $70.72.

Apogee Enterprises (NASDAQ:APOG) last announced 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. The business had revenue of $342.40 million for the quarter, compared to the consensus estimate of $335.31 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.36 EPS. As a group, sell-side analysts forecast that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Apogee Enterprises

Hedge funds have recently added to or reduced their stakes in the business. Gladius Capital Management LP acquired a new stake in Apogee Enterprises in the third quarter valued at approximately $33,000. GAMMA Investing LLC raised its position 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 worth $38,000 after purchasing an additional 163 shares during the last quarter. Quarry LP lifted its stake in Apogee Enterprises by 959.4% in the 2nd quarter. Quarry LP now owns 731 shares of the industrial products company’s stock valued at $46,000 after buying an additional 662 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Apogee Enterprises during the 3rd quarter worth approximately $58,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Apogee Enterprises during the second quarter valued at approximately $75,000. 94.05% of the stock is owned by hedge funds and other 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).