Apogee Enterprises (NASDAQ:APOG) Stock Price Down 5.4% on Analyst Downgrade

Apogee Enterprises, Inc. (NASDAQ:APOG) was down 5.4% during mid-day trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $38.02 and last traded at $38.1350. 7,136 shares changed hands during trading, a decline of 97% from the average daily volume of 251,026 shares. The stock had previously closed at $40.33.

Other analysts have also issued research reports about the company. Weiss Ratings upgraded Apogee Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

Institutional Investors Weigh In On Apogee Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP grew its holdings in Apogee Enterprises by 100.9% in the second quarter. Corient Private Wealth LP now owns 21,830 shares of the industrial products company’s stock worth $999,000 after purchasing an additional 10,966 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Apogee Enterprises during the 2nd quarter valued at $352,000. California State Teachers Retirement System boosted its position in shares of Apogee Enterprises by 4,321.7% in the 2nd quarter. California State Teachers Retirement System now owns 886,807 shares of the industrial products company’s stock worth $40,563,000 after purchasing an additional 866,751 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of Apogee Enterprises by 10.4% in the 2nd quarter. Headlands Technologies LLC now owns 18,173 shares of the industrial products company’s stock worth $831,000 after purchasing an additional 1,713 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Apogee Enterprises by 12.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,165 shares of the industrial products company’s stock worth $2,066,000 after buying an additional 5,079 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Apogee Enterprises Trading Up 1.3%

The company has a 50 day moving average of $41.18 and a two-hundred day moving average of $38.23. The stock has a market capitalization of $794.24 million, a PE ratio of 11.93, a P/E/G ratio of 1.06 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.34 and a current ratio of 1.76.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly 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 company had revenue of $342.68 million during the quarter, compared to analysts’ expectations of $333.84 million. During the same period last year, the business posted ($0.13) earnings per share. The firm’s 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. Sell-side analysts predict that Apogee Enterprises, Inc. will post 2.96 EPS for the current year.

Apogee Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Tuesday, July 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, July 14th. Apogee Enterprises’s payout ratio is currently 33.86%.

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.