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

Key Points

• Apogee Enterprises shares rose above their 200-day moving average, reaching $43.95 and last trading at $43.68, up 1.3%.
• Analysts have become more bullish after the company reported adjusted earnings of $1.17 per share, well above the $0.59 consensus estimate, while revenue also exceeded expectations and grew 9.2% year over year.
• The company declared a quarterly dividend of $0.27 per share, equivalent to an annualized $1.08 payout and a 2.5% dividend yield; institutional investors own approximately 94% of the stock.

Shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $38.86 and traded as high as $43.95. Apogee Enterprises shares last traded at $43.68, with a volume of 292,209 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on APOG shares. Weiss Ratings upgraded Apogee Enterprises from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Zacks Research upgraded Apogee Enterprises from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 16th. Finally, Wall Street Zen upgraded Apogee Enterprises from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Apogee Enterprises currently has a consensus rating of "Buy" and an average price target of $70.50.

Apogee Enterprises Stock Up 1.3%

The company has a market cap of $912.74 million, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The firm's 50 day simple moving average is $39.32 and its 200 day simple moving average is $38.86. The company has a quick ratio of 1.34, a current ratio of 1.78 and a debt-to-equity ratio of 0.64.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last posted its earnings results on Tuesday, October 6th. The industrial products company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.59 by $0.58. The firm had revenue of $391.13 million for the quarter, compared to analysts' expectations of $362.61 million. Apogee Enterprises had a return on equity of 15.20% and a net margin of 4.68%. The firm's revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Apogee Enterprises has set its FY 2027 guidance at 3.000-3.400 EPS. Sell-side analysts anticipate that Apogee Enterprises, Inc. will post 3.37 EPS for the current fiscal year.

Apogee Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Tuesday, October 20th will be issued a $0.27 dividend. The ex-dividend date is Tuesday, October 20th. This represents a $1.08 annualized dividend and a dividend yield of 2.5%. Apogee Enterprises's dividend payout ratio (DPR) is 34.18%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APOG. Gabelli Funds LLC grew its stake in shares of Apogee Enterprises by 427.3% in the 1st quarter. Gabelli Funds LLC now owns 53,852 shares of the industrial products company's stock worth $1,806,000 after purchasing an additional 43,639 shares during the last quarter. Bank of America Corp DE acquired a new stake in Apogee Enterprises during the 2nd quarter valued at $2,609,000. Dimensional Fund Advisors LP lifted its stake in Apogee Enterprises by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,063,485 shares of the industrial products company's stock worth $35,668,000 after acquiring an additional 78,200 shares in the last quarter. Sei Investments Co. lifted its position in shares of Apogee Enterprises by 99.8% in the first quarter. Sei Investments Co. now owns 61,565 shares of the industrial products company's stock worth $2,065,000 after purchasing an additional 30,748 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Apogee Enterprises in the 2nd quarter worth approximately $6,228,000. 94.05% of the stock is owned by institutional investors and hedge funds.

About Apogee Enterprises

Apogee Enterprises, Inc is a manufacturer and distributor of architectural products and services for commercial, institutional and other building projects. The company provides solutions designed to support the building envelope, including high-performance architectural glass, aluminum windows, curtainwall and storefront framing systems, and related components.

Apogee also provides installation and building-envelope services, helping customers with the design, fabrication and construction of exterior glass and framing systems.

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