Apogee Enterprises Inc (NASDAQ:APOG) Sees Significant Decrease in Short Interest
Apogee Enterprises Inc (NASDAQ:APOG) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 738,300 shares, a decline of 9.0% from the May 30th total of 811,600 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average trading volume of 236,000 shares, the days-to-cover ratio is presently 3.1 days.
Shares of NASDAQ:APOG opened at $43.09 on Monday. The company has a market capitalization of $1.14 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.42 and a beta of 1.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.83. Apogee Enterprises has a 1 year low of $26.38 and a 1 year high of $50.87. The firm’s fifty day simple moving average is $39.85.
Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Thursday, June 27th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Apogee Enterprises had a return on equity of 16.04% and a net margin of 3.22%. The company had revenue of $355.40 million for the quarter, compared to the consensus estimate of $324.39 million. During the same quarter in the prior year, the company earned $0.62 earnings per share. Apogee Enterprises’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that Apogee Enterprises will post 3.04 EPS for the current year.
In other Apogee Enterprises news, Director Sara L. Hays sold 1,985 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $39.14, for a total value of $77,692.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Apogee Enterprises by 105.5% in the first quarter. PNC Financial Services Group Inc. now owns 937 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 481 shares during the period. Versant Capital Management Inc increased its position in Apogee Enterprises by 475.4% in the first quarter. Versant Capital Management Inc now owns 1,053 shares of the industrial products company’s stock worth $39,000 after buying an additional 870 shares in the last quarter. Bessemer Group Inc. purchased a new stake in Apogee Enterprises in the fourth quarter worth about $45,000. Cutler Group LP purchased a new stake in Apogee Enterprises in the first quarter worth about $48,000. Finally, ETF Managers Group LLC increased its position in Apogee Enterprises by 460.1% in the first quarter. ETF Managers Group LLC now owns 3,327 shares of the industrial products company’s stock worth $125,000 after buying an additional 2,733 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on APOG shares. BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday. DA Davidson lowered their price target on Commerce Bancshares to $60.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. TheStreet raised Select Medical from a “c+” rating to a “b-” rating in a report on Thursday, June 27th. Finally, Craig Hallum downgraded Hydrogenics from a “buy” rating to a “hold” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.33.
Apogee Enterprises Company Profile
Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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