DA Davidson Has Lowered Expectations for Apogee Enterprises (NASDAQ:APOG) Stock Price

Apogee Enterprises (NASDAQ:APOG) had its price target dropped by research analysts at DA Davidson from $75.00 to $62.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. DA Davidson’s price target suggests a potential upside of 17.92% from the company’s previous close.

Separately, StockNews.com upgraded Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 1st.

Apogee Enterprises Stock Down 8.7 %

NASDAQ APOG traded down $5.02 during trading on Wednesday, reaching $52.58. 427,741 shares of the company’s stock were exchanged, compared to its average volume of 416,325. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. Apogee Enterprises has a fifty-two week low of $51.15 and a fifty-two week high of $87.93. The company’s fifty day simple moving average is $78.37 and its 200-day simple moving average is $70.98. The firm has a market capitalization of $1.15 billion, a PE ratio of 11.07 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm had revenue of $341.30 million for the quarter, compared to the consensus estimate of $332.27 million. During the same period in the previous year, the firm posted $1.23 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. Sell-side analysts predict that Apogee Enterprises will post 5.06 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in Apogee Enterprises during the second quarter worth $3,547,000. Kingsview Wealth Management LLC acquired a new stake in shares of Apogee Enterprises during the 3rd quarter valued at about $2,134,000. Renaissance Technologies LLC raised its position in Apogee Enterprises by 1,004.1% in the second quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock worth $4,567,000 after purchasing an additional 66,100 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Apogee Enterprises by 2,602.0% during the third quarter. Farther Finance Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 1,301 shares during the period. Finally, Quest Partners LLC boosted its holdings in Apogee Enterprises by 115,311.1% during the second quarter. Quest Partners LLC now owns 10,387 shares of the industrial products company’s stock valued at $653,000 after purchasing an additional 10,378 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Apogee Enterprises

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).