Apogee Enterprises Inc (APOG) Receives Consensus Rating of “Buy” from Analysts

Apogee Enterprises Inc (NASDAQ:APOG) has been given a consensus rating of “Buy” by the six research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $63.33.

APOG has been the subject of a number of research reports. Zacks Investment Research raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. BidaskClub raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, December 21st.

Apogee Enterprises (APOG) traded up $0.65 during mid-day trading on Tuesday, hitting $46.73. 210,400 shares of the stock were exchanged, compared to its average volume of 300,156. The company has a market capitalization of $1,327.94, a PE ratio of 16.81, a P/E/G ratio of 1.53 and a beta of 1.62. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.79 and a quick ratio of 1.32. Apogee Enterprises has a 52-week low of $40.03 and a 52-week high of $61.00.

Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Thursday, December 21st. The industrial products company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). The company had revenue of $356.50 million during the quarter, compared to the consensus estimate of $373.35 million. Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. sell-side analysts forecast that Apogee Enterprises will post 3.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th will be issued a $0.1575 dividend. The ex-dividend date is Monday, January 29th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.14. Apogee Enterprises’s dividend payout ratio is 20.14%.

Apogee Enterprises declared that its board has approved a share repurchase program on Tuesday, January 9th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of APOG. Koch Industries Inc. bought a new position in Apogee Enterprises in the 2nd quarter valued at approximately $309,000. Deprince Race & Zollo Inc. bought a new position in Apogee Enterprises in the 3rd quarter valued at approximately $11,455,000. American Century Companies Inc. raised its holdings in Apogee Enterprises by 130.4% in the 3rd quarter. American Century Companies Inc. now owns 369,475 shares of the industrial products company’s stock valued at $17,831,000 after buying an additional 209,092 shares during the last quarter. Fisher Asset Management LLC bought a new position in Apogee Enterprises in the 3rd quarter valued at approximately $6,805,000. Finally, DnB Asset Management AS bought a new position in Apogee Enterprises in the 4th quarter valued at approximately $6,325,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

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About Apogee Enterprises

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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