Apogee Enterprises (NASDAQ:APOG) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Apogee Enterprises' shares crossed above their 200-day moving average, trading as high as $44.23, before settling at $42.89 with a notable trading volume of 128,668 shares.
• A consensus rating of "Hold" has been established for Apogee Enterprises, with recent price targets ranging from $45.00 to $47.00, reflecting cautious optimism among analysts.
• Institutional investors hold 94.05% of Apogee Enterprises' stock, indicating strong confidence and significant support from hedge funds and investment firms.

Shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.42 and traded as high as $44.23. Apogee Enterprises shares last traded at $42.89, with a volume of 128,668 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on APOG. DA Davidson reduced their price objective on shares of Apogee Enterprises from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Tuesday, July 1st. Wall Street Zen cut shares of Apogee Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Apogee Enterprises in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $45.00.

Apogee Enterprises Stock Down 1.9%

The company has a market capitalization of $923.42 million, a PE ratio of 18.33 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.36 and a current ratio of 1.77. The stock's 50 day moving average is $43.15 and its 200 day moving average is $42.42.

Institutional Trading of Apogee Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Apogee Enterprises by 0.5% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 50,328 shares of the industrial products company's stock worth $2,043,000 after purchasing an additional 250 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Apogee Enterprises by 2.2% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,185 shares of the industrial products company's stock worth $611,000 after purchasing an additional 282 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Apogee Enterprises by 5.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,539 shares of the industrial products company's stock worth $225,000 after purchasing an additional 285 shares in the last quarter. Rhumbline Advisers lifted its stake in Apogee Enterprises by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 63,399 shares of the industrial products company's stock worth $2,574,000 after purchasing an additional 386 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in Apogee Enterprises by 8.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,026 shares of the industrial products company's stock worth $204,000 after purchasing an additional 393 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Enterprises Company Profile

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).

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