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

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 report issued on Friday.

Separately, DA Davidson lowered their target price on Apogee Enterprises from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st.

Apogee Enterprises Stock Performance

Shares of APOG stock traded up $1.06 during trading on Friday, reaching $42.60. 34,899 shares of the company's stock were exchanged, compared to its average volume of 206,735. The company has a quick ratio of 1.36, a current ratio of 1.77 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $917.18 million, a PE ratio of 18.16 and a beta of 0.96. Apogee Enterprises has a twelve month low of $37.53 and a twelve month high of $87.93. The firm's fifty day moving average price is $40.43 and its 200-day moving average price is $45.59.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last released its quarterly earnings results on Friday, June 27th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.11. The business had revenue of $346.62 million during the quarter, compared to the consensus estimate of $326.08 million. Apogee Enterprises had a return on equity of 17.79% and a net margin of 3.73%. The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 EPS. As a group, sell-side analysts anticipate that Apogee Enterprises will post 4.97 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new stake in Apogee Enterprises in the first quarter worth $691,000. SG Americas Securities LLC purchased a new position in shares of Apogee Enterprises in the first quarter valued at $280,000. Janney Montgomery Scott LLC grew its position in shares of Apogee Enterprises by 18.5% in the first quarter. Janney Montgomery Scott LLC now owns 29,914 shares of the industrial products company's stock valued at $1,386,000 after purchasing an additional 4,680 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Apogee Enterprises by 35.3% in the fourth quarter. Franklin Resources Inc. now owns 44,247 shares of the industrial products company's stock valued at $3,160,000 after purchasing an additional 11,552 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Apogee Enterprises by 6.7% in the fourth quarter. Bank of America Corp DE now owns 103,804 shares of the industrial products company's stock valued at $7,413,000 after purchasing an additional 6,529 shares in the last quarter. Institutional investors 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).