Apogee Enterprises (NASDAQ:APOG) Upgraded to “Moderate Buy” at Singular Research

Singular Research upgraded shares of Apogee Enterprises (NASDAQ:APOG) to a moderate buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on APOG. DA Davidson reduced their price objective on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Sidoti raised Apogee Enterprises from a “neutral” rating to a “buy” rating in a research note on Friday, January 10th. Finally, StockNews.com downgraded Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 9th.

Apogee Enterprises Stock Down 0.7 %

APOG opened at $53.04 on Tuesday. Apogee Enterprises has a fifty-two week low of $49.58 and a fifty-two week 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 company’s 50-day moving average is $76.49 and its 200 day moving average is $70.74. The firm has a market capitalization of $1.16 billion, a P/E ratio of 11.17 and a beta of 1.04.

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

Apogee Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, January 28th. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s payout ratio is 23.21%.

Hedge Funds Weigh In On Apogee Enterprises

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gladius Capital Management LP bought a new stake in Apogee Enterprises in the third quarter valued at approximately $33,000. GAMMA Investing LLC increased its stake 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 worth $38,000 after buying an additional 163 shares during the period. Quarry LP raised its holdings in Apogee Enterprises by 959.4% during 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 during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Apogee Enterprises during the 3rd quarter valued at $58,000. Finally, CWM LLC boosted its position in Apogee Enterprises by 19.9% during the 3rd quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock valued at $80,000 after buying an additional 190 shares during the period. 94.05% of the stock is currently 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).