Zacks Investment Research Downgrades Apogee Enterprises Inc. (APOG) to Hold
Apogee Enterprises Inc. (NASDAQ:APOG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Apogee raised its earnings per share outlook for fiscal 2017 in the range of $2.80–$2.90 but maintained its outlook for revenue growth of 10% for the full year fiscal 2017 backed by strong momentum in the architectural markets, expansion in new geographies and introduction of new products. Focus on productivity improvement, cost control and improvements in volume, mix, project margins and operating leverage will sustain margin expansion. The company also has a positive record of earnings surprises in the past few quarters. However, lower backlog, impact of unfavorable foreign currency will affect its results in the near term. Further, weak Brazilian market conditions and slower Canadian business continue to be the near-term headwinds for Architectural Framing Systems segment. “
Separately, DA Davidson set a $56.00 price objective on shares of Apogee Enterprises and gave the company a “buy” rating in a research note on Tuesday, September 13th.
Shares of Apogee Enterprises (NASDAQ:APOG) opened at 46.06 on Tuesday. Apogee Enterprises has a 1-year low of $33.67 and a 1-year high of $54.34. The stock has a market cap of $1.33 billion, a P/E ratio of 17.05 and a beta of 1.37. The company’s 50-day moving average is $43.33 and its 200 day moving average is $44.83.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Wednesday, September 14th. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The firm had revenue of $278.50 million for the quarter. Apogee Enterprises had a net margin of 7.65% and a return on equity of 18.68%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. Equities research analysts anticipate that Apogee Enterprises will post $2.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 9th. Shareholders of record on Tuesday, October 25th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, October 21st. Apogee Enterprises’s dividend payout ratio is 18.52%.
Hedge funds have recently bought and sold shares of the company. Copper Rock Capital Partners LLC increased its stake in Apogee Enterprises by 21.9% in the third quarter. Copper Rock Capital Partners LLC now owns 657,566 shares of the company’s stock valued at $29,156,000 after buying an additional 117,925 shares in the last quarter. Emerald Advisers Inc. PA increased its stake in Apogee Enterprises by 3.0% in the second quarter. Emerald Advisers Inc. PA now owns 629,795 shares of the company’s stock valued at $29,191,000 after buying an additional 18,345 shares in the last quarter. Falcon Point Capital LLC increased its stake in Apogee Enterprises by 2.2% in the second quarter. Falcon Point Capital LLC now owns 357,364 shares of the company’s stock valued at $16,564,000 after buying an additional 7,522 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Apogee Enterprises by 4.6% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 632,641 shares of the company’s stock valued at $29,323,000 after buying an additional 27,860 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Apogee Enterprises by 17.3% in the first quarter. BlackRock Group LTD now owns 46,382 shares of the company’s stock valued at $2,035,000 after buying an additional 6,829 shares in the last quarter. 98.28% of the stock is owned by institutional investors.
Apogee Enterprises Company Profile
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
Receive News & Stock Ratings for Apogee Enterprises Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apogee Enterprises Inc. and related stocks with our FREE daily email newsletter.