Apogee Enterprises (NASDAQ:APOG) Raised to Buy at Wall Street Zen

Key Points

• Apogee Enterprises was upgraded by Wall Street Zen from hold to buy, adding to a generally positive analyst tone on the stock. MarketBeat says the shares now carry an average rating of Buy with a $70.50 consensus price target.
• The company also reported better-than-expected quarterly results, with EPS of $0.57 versus estimates of $0.43 and revenue of $342.68 million above forecasts. Revenue still declined 1.1% year over year, but the earnings beat and guidance support investor optimism.
• Apogee shares traded up 1.2% and the company remains backed by heavy institutional ownership, with funds and asset managers holding 94.05% of the stock. Its shares were last priced at $40.74, well below the 12-month high of $50.88.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other equities analysts have also recently issued reports on APOG. Weiss Ratings upgraded Apogee Enterprises from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 2nd. Zacks Research upgraded shares of Apogee Enterprises from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $70.50.

Apogee Enterprises Stock Up 1.2%

Shares of NASDAQ APOG opened at $40.74 on Friday. The stock has a market cap of $850.24 million, a P/E ratio of 12.77, a PEG ratio of 1.13 and a beta of 1.13. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 0.46. Apogee Enterprises has a 12-month low of $30.75 and a 12-month high of $50.88. The business's fifty day simple moving average is $39.42 and its 200-day simple moving average is $37.58.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last released its earnings results on Friday, June 26th. The industrial products company reported $0.57 earnings per share (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 during the quarter, compared to analyst estimates of $333.84 million. During the same period last year, the business posted ($0.13) earnings per share. Apogee Enterprises'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. As a group, equities analysts predict that Apogee Enterprises will post 2.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Deprince Race & Zollo Inc. raised its stake in Apogee Enterprises by 70.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 852,351 shares of the industrial products company's stock worth $31,034,000 after acquiring an additional 351,923 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Apogee Enterprises by 1,074.3% during the first quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company's stock worth $14,836,000 after purchasing an additional 292,952 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Apogee Enterprises by 524.3% during the fourth quarter. Federated Hermes Inc. now owns 228,361 shares of the industrial products company's stock worth $8,315,000 after purchasing an additional 191,783 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Apogee Enterprises by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 2,627,223 shares of the industrial products company's stock worth $95,657,000 after purchasing an additional 166,402 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Apogee Enterprises by 103.2% during the fourth quarter. Russell Investments Group Ltd. now owns 216,607 shares of the industrial products company's stock worth $7,887,000 after purchasing an additional 110,023 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Apogee Enterprises Company Profile

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.

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