Apogee Enterprises, Inc. (NASDAQ:APOG) posted its quarterly earnings data on Tuesday. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.08), MarketWatch Earnings reports. The firm had revenue of $343.91 million during the quarter, compared to analyst estimates of $349.97 million. Apogee Enterprises had a net margin of 7.39% and a return on equity of 18.59%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Apogee Enterprises updated its FY18 guidance to $3.40-3.60 EPS.
Shares of Apogee Enterprises (APOG) opened at 44.98 on Tuesday. Apogee Enterprises has a 12-month low of $39.88 and a 12-month high of $61.00. The company has a 50-day moving average of $47.12 and a 200-day moving average of $53.21. The stock has a market capitalization of $1.30 billion, a P/E ratio of 15.40 and a beta of 1.61.
In other news, Director Jerome L. Davis sold 18,706 shares of the stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $55.04, for a total value of $1,029,578.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Riverhead Capital Management LLC lifted its position in shares of Apogee Enterprises by 99.8% in the second quarter. Riverhead Capital Management LLC now owns 2,398 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 1,198 shares in the last quarter. Forward Management LLC purchased a new stake in shares of Apogee Enterprises in the second quarter worth approximately $137,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Apogee Enterprises in the first quarter worth approximately $146,000. Flinton Capital Management LLC lifted its position in shares of Apogee Enterprises by 80.0% in the second quarter. Flinton Capital Management LLC now owns 3,060 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 1,360 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Apogee Enterprises by 76.9% in the second quarter. Advisor Group Inc. now owns 3,444 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 1,497 shares in the last quarter.
A number of equities analysts have recently weighed in on APOG shares. ValuEngine lowered shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Sidoti started coverage on shares of Apogee Enterprises in a research report on Thursday, May 25th. They issued a “buy” rating and a $70.00 price objective for the company. Zacks Investment Research lowered shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. DA Davidson set a $52.00 price objective on shares of Apogee Enterprises and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, BidaskClub lowered shares of Apogee Enterprises from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $63.75.
Apogee Enterprises Company Profile
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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