Apogee Enterprises (NASDAQ:APOG) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Apogee Enterprises (NASDAQ:APOGFree Report) from a strong-buy rating to a hold rating in a research report released on Monday,Zacks reports.

Several other equities research analysts have also issued reports on the company. Wall Street Zen raised Apogee Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Apogee Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Check Out Our Latest Analysis on APOG

Apogee Enterprises Stock Down 3.8%

Shares of NASDAQ APOG opened at $37.59 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.76 and a debt-to-equity ratio of 0.46. The firm has a market cap of $784.50 million, a PE ratio of 11.78, a P/E/G ratio of 1.10 and a beta of 1.14. The company’s fifty day simple moving average is $41.26 and its 200 day simple moving average is $38.25. Apogee Enterprises has a 12-month low of $30.75 and a 12-month high of $50.88.

Apogee Enterprises (NASDAQ:APOGGet Free Report) last announced its quarterly earnings data on Friday, June 26th. The industrial products company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. The firm had revenue of $342.68 million during the quarter, compared to analysts’ expectations of $333.84 million. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) earnings per share. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. As a group, sell-side analysts forecast that Apogee Enterprises will post 2.96 earnings per share for the current fiscal year.

Apogee Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Tuesday, July 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, July 14th. Apogee Enterprises’s dividend payout ratio is currently 33.86%.

Hedge Funds Weigh In On Apogee Enterprises

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC bought a new position in Apogee Enterprises during the first quarter valued at approximately $30,000. PNC Financial Services Group Inc. boosted its stake in shares of Apogee Enterprises by 38.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,065 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 296 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Apogee Enterprises during the 2nd quarter valued at $38,000. Quantbot Technologies LP purchased a new position in Apogee Enterprises in the 2nd quarter worth $39,000. Finally, Meeder Asset Management Inc. purchased a new position in Apogee Enterprises in the 1st quarter worth $41,000. Institutional investors own 94.05% of the company’s stock.

About Apogee Enterprises

(Get Free Report)

Apogee Enterprises, Inc is a diversified manufacturer and distributor of value-added architectural products and services. The company specializes in the design, fabrication and installation of high-performance glass, framing systems, curtain walls, skylights and other building envelope solutions. Its operations span three primary platforms—Architectural Framing Systems, Architectural Glass and Architectural Services—enabling Apogee to deliver complete, integrated façade systems for new construction, renovation and retrofit projects.

Headquartered in Minneapolis, Minnesota, Apogee traces its roots to the mid-20th century and today serves commercial, institutional and residential markets across North America and Europe.

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