Apogee Enterprises (NASDAQ:APOG) Rating Increased to Strong-Buy at Zacks Research

Apogee Enterprises (NASDAQ:APOG) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Apogee Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 5th. Weiss Ratings raised shares of Apogee Enterprises from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $70.50.

Apogee Enterprises Price Performance

APOG opened at $40.18 on Tuesday. The stock has a market cap of $838.56 million, a price-to-earnings ratio of 12.60, a PEG ratio of 1.10 and a beta of 1.13. Apogee Enterprises has a 1 year low of $30.75 and a 1 year high of $50.88. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average price of $39.20 and a 200 day moving average price of $37.54.

Apogee Enterprises (NASDAQ:APOG) last issued its earnings results 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. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The firm had revenue of $342.68 million for the quarter, compared to the consensus estimate of $333.84 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. Analysts forecast that Apogee Enterprises will post 2.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Apogee Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in shares of Apogee Enterprises by 40.3% in the first quarter. Royal Bank of Canada now owns 8,515 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 2,447 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Apogee Enterprises by 24.0% during the 1st quarter. AQR Capital Management LLC now owns 59,999 shares of the industrial products company’s stock worth $2,780,000 after buying an additional 11,608 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Apogee Enterprises by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,992 shares of the industrial products company’s stock worth $602,000 after buying an additional 556 shares during the period. Millennium Management LLC boosted its holdings in shares of Apogee Enterprises by 1,074.3% during the 1st quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company’s stock worth $14,836,000 after buying an additional 292,952 shares during the period. Finally, Jane Street Group LLC grew its stake in Apogee Enterprises by 120.3% in the 1st quarter. Jane Street Group LLC now owns 79,281 shares of the industrial products company’s stock valued at $3,673,000 after buying an additional 43,297 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Apogee Enterprises

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.