Published On: Mon, Sep 19th, 2016

Q3 2017 EPS Estimates for Apogee Enterprises Inc. Lowered by DA Davidson (APOG)

Apogee Enterprises Inc. (NASDAQ:APOG) – Equities researchers at DA Davidson reduced their Q3 2017 earnings per share estimates for Apogee Enterprises in a note issued to investors on Thursday. DA Davidson analyst B. Thielman now anticipates that the brokerage will earn $0.79 per share for the quarter, down from their previous forecast of $0.82. DA Davidson currently has a “Buy” rating and a $56.00 target price on the stock. DA Davidson also issued estimates for Apogee Enterprises’ Q4 2017 earnings at $0.69 EPS and FY2017 earnings at $2.87 EPS.
Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Wednesday, September 14th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. The company had revenue of $278.50 million for the quarter. Apogee Enterprises had a net margin of 7.65% and a return on equity of 18.68%. Apogee Enterprises’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS.
Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. Goldman Sachs Group Inc. cut shares of Apogee Enterprises from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $53.00 to $50.00 in a research note on Monday, July 11th.

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Apogee Enterprises (NASDAQ:APOG) opened at 44.32 on Monday. The stock’s 50 day moving average is $47.45 and its 200-day moving average is $44.62. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 16.41 and a beta of 1.49. Apogee Enterprises has a one year low of $33.67 and a one year high of $58.29.
In other news, Director Robert J. Marzec sold 3,000 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $48.04, for a total value of $144,120.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James S. Porter sold 2,500 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $46.14, for a total transaction of $115,350.00. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP raised its position in shares of Apogee Enterprises by 125.9% in the second quarter. Quantbot Technologies LP now owns 2,937 shares of the company’s stock worth $136,000 after buying an additional 1,637 shares during the last quarter. PineBridge Investments L.P. raised its position in shares of Apogee Enterprises by 3.5% in the second quarter. PineBridge Investments L.P. now owns 3,651 shares of the company’s stock worth $170,000 after buying an additional 122 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Apogee Enterprises by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,056 shares of the company’s stock worth $188,000 after buying an additional 490 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Apogee Enterprises during the second quarter worth approximately $228,000. Finally, Parametrica Management Ltd bought a new position in shares of Apogee Enterprises during the first quarter worth approximately $229,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.
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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