Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week Low – What’s Next?

Apogee Enterprises, Inc. (NASDAQ:APOG) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $32.95 and last traded at $35.01, with a volume of 248661 shares trading hands. The stock had previously closed at $33.66.

Analyst Upgrades and Downgrades

Several analysts recently commented on APOG shares. Wall Street Zen upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apogee Enterprises in a report on Thursday, October 30th. Finally, DA Davidson upgraded shares of Apogee Enterprises from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.00.

Apogee Enterprises Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.76. The company’s fifty day simple moving average is $39.96 and its two-hundred day simple moving average is $40.84. The stock has a market capitalization of $743.53 million, a PE ratio of 16.92 and a beta of 1.10.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Friday, October 10th. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.14. The company had revenue of $358.19 million for the quarter, compared to the consensus estimate of $350.91 million. Apogee Enterprises had a net margin of 3.19% and a return on equity of 15.76%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 earnings per share. As a group, sell-side analysts predict that Apogee Enterprises, Inc. will post 4.97 EPS for the current year.

Apogee Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Wednesday, October 29th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, October 29th. This represents a $1.04 annualized dividend and a dividend yield of 3.0%. Apogee Enterprises’s dividend payout ratio is presently 50.98%.

Institutional Investors Weigh In On Apogee Enterprises

Several hedge funds have recently made changes to their positions in APOG. Dynamic Technology Lab Private Ltd acquired a new stake in Apogee Enterprises in the 1st quarter worth about $596,000. State of Alaska Department of Revenue increased its stake in shares of Apogee Enterprises by 5.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,850 shares of the industrial products company’s stock valued at $521,000 after acquiring an additional 686 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Apogee Enterprises by 29.0% during the 1st quarter. Voya Investment Management LLC now owns 113,571 shares of the industrial products company’s stock worth $5,262,000 after acquiring an additional 25,514 shares during the period. PharVision Advisers LLC acquired a new stake in shares of Apogee Enterprises in the first quarter worth approximately $268,000. Finally, Moody National Bank Trust Division boosted its position in shares of Apogee Enterprises by 31.1% in the second quarter. Moody National Bank Trust Division now owns 30,865 shares of the industrial products company’s stock worth $1,253,000 after acquiring an additional 7,329 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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).