DA Davidson Cuts Apogee Enterprises (NASDAQ:APOG) Price Target to $62.00

Apogee Enterprises (NASDAQ:APOG) had its price objective reduced by DA Davidson from $75.00 to $62.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock. DA Davidson also issued estimates for Apogee Enterprises’ FY2025 earnings at $4.96 EPS and FY2026 earnings at $4.38 EPS.

Separately, StockNews.com upgraded Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 1st.

Apogee Enterprises Trading Down 3.4 %

NASDAQ:APOG opened at $50.75 on Wednesday. The company has a market capitalization of $1.11 billion, a PE ratio of 10.68 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. Apogee Enterprises has a 52-week low of $50.67 and a 52-week high of $87.93. The stock has a fifty day simple moving average of $77.45 and a 200-day simple moving average of $70.72.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm had revenue of $341.30 million during the quarter, compared to the consensus estimate of $332.27 million. During the same quarter in the previous year, the company posted $1.23 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts expect that Apogee Enterprises will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, January 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s payout ratio is presently 21.05%.

Institutional Trading of Apogee Enterprises

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Apogee Enterprises during the 2nd quarter worth about $3,547,000. Kingsview Wealth Management LLC purchased a new stake in shares of Apogee Enterprises during the 3rd quarter worth about $2,134,000. Renaissance Technologies LLC grew its holdings in shares of Apogee Enterprises by 1,004.1% during the 2nd quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock worth $4,567,000 after purchasing an additional 66,100 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Apogee Enterprises by 2,602.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 1,301 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Apogee Enterprises by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock worth $37,131,000 after purchasing an additional 7,382 shares during the period. Hedge funds and other 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).