Apogee Enterprises (APOG) Lifted to Hold at Zacks Investment Research

Apogee Enterprises (NASDAQ:APOG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “For fiscal 2019, Apogee anticipates double-digit revenue growth and triple-digit basis-point improvement in its operating margin. The company will gain from focus on restructuring activities including the closing of its Viracon architectural glass plant. Recent dividend hike and share repurchase authorization will also aid results. Further, the growing architectural market, focus on operational improvements, expansion in new geographies, as well as product roll outs are anticipated to drive Apogee's growth. However, lower volume and pricing (mainly in the Architectural Glass segment) and higher health care costs remain headwinds for its results. Restructuring charges, a strong U.S. dollar will hurt the company’s performance. Moreover, the stock has underperformed the industry in the past year. “

APOG has been the topic of several other reports. BidaskClub raised Apogee Enterprises from a “hold” rating to a “buy” rating in a research report on Thursday. ValuEngine cut Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $61.00.

Shares of Apogee Enterprises (NASDAQ:APOG) opened at $45.04 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $1,261.73, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.58. Apogee Enterprises has a 12-month low of $40.03 and a 12-month high of $61.00.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.14). The firm had revenue of $356.50 million for the quarter, compared to the consensus estimate of $373.35 million. Apogee Enterprises had a net margin of 6.24% and a return on equity of 17.99%. The business’s revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. equities research analysts anticipate that Apogee Enterprises will post 3.05 earnings per share for the current year.

Apogee Enterprises announced that its Board of Directors has approved a share repurchase program on Tuesday, January 9th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Sara L. Hays sold 2,229 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $45.46, for a total value of $101,330.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Apogee Enterprises by 79.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,486 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,100 shares in the last quarter. Elkfork Partners LLC bought a new stake in shares of Apogee Enterprises in the 4th quarter worth approximately $170,000. SG Americas Securities LLC bought a new stake in shares of Apogee Enterprises in the 3rd quarter worth approximately $190,000. Miles Capital Inc. bought a new stake in shares of Apogee Enterprises in the 4th quarter worth approximately $207,000. Finally, Worth Venture Partners LLC bought a new stake in shares of Apogee Enterprises in the 3rd quarter worth approximately $246,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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