Apogee Enterprises (NASDAQ:APOG) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Apogee Enterprises (NASDAQ: APOG) shares moved above their 200-day moving average, trading as high as $39.30 and last changing hands at $39.00, on volume of 222,839 shares.
• Recent analyst action has been mixed, but the stock now carries a Moderate Buy consensus with an average price target of $70.50, according to MarketBeat.
• The company recently reported better-than-expected quarterly results, posting EPS of $0.57 versus $0.43 expected and revenue of $342.68 million versus $333.84 million forecast, while also announcing a quarterly dividend of $0.27 per share.

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.41 and traded as high as $39.30. Apogee Enterprises shares last traded at $39.00, with a volume of 222,839 shares.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APOG. Zacks Research upgraded shares of Apogee Enterprises from a "strong sell" rating to a "hold" rating in a research note on Friday, June 12th. Wall Street Zen downgraded Apogee Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 5th. Finally, Weiss Ratings raised Apogee Enterprises from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $70.50.

Apogee Enterprises Trading Up 0.5%

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.76 and a quick ratio of 1.34. The business's fifty day simple moving average is $38.68 and its 200 day simple moving average is $37.41. The stock has a market cap of $813.93 million, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.09 and a beta of 1.13.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last issued its earnings results on Friday, June 26th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.14. Apogee Enterprises had a net margin of 4.88% and a return on equity of 14.72%. The company had revenue of $342.68 million for the quarter, compared to analysts' expectations of $333.84 million. During the same period in the prior year, the company earned ($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. On average, research analysts predict that Apogee Enterprises, Inc. will post 2.96 EPS for the current year.

Apogee Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Tuesday, July 14th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, July 14th. Apogee Enterprises's dividend payout ratio is currently 33.86%.

Hedge Funds Weigh In On Apogee Enterprises

A number of large investors have recently bought and sold shares of the business. Deprince Race & Zollo Inc. raised its position in shares of 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 purchasing an additional 351,923 shares during the period. Vanguard Group Inc. boosted its position in Apogee Enterprises by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 2,627,223 shares of the industrial products company's stock valued at $95,657,000 after purchasing an additional 166,402 shares during the period. ProShare Advisors LLC boosted its position in Apogee Enterprises by 10.1% during the 4th quarter. ProShare Advisors LLC now owns 161,397 shares of the industrial products company's stock valued at $5,876,000 after purchasing an additional 14,865 shares during the period. Ishara Investments LP acquired a new position in Apogee Enterprises during the 4th quarter valued at approximately $910,000. Finally, Peregrine Capital Management LLC bought a new position in Apogee Enterprises during the 1st quarter worth $3,193,000. Institutional investors own 94.05% of the company's stock.

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.

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