Zacks upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a sell rating to a hold rating in a market report issued Friday 25 September.
According to the report, “Apogee’s earnings surged 43% year over year in the second-quarter of fiscal 2016. Revenues also rose around 4%, driven by strong growth in U.S. products businesses. Apogee expects strong improvement driven by its strategies to grow through new territories, with new products and in new markets along with a focus on productivity and operational improvements. However, the company slashed its fiscal 2016 revenue growth outlook to the high single-digits due to construction site delays. It remains cautious about the architectural glass segment, where growth will be hindered by weak Brazilian market conditions. Moreover, negative impact of foreign exchange and weak foreign markets will hurt Apogee’s growth.”
Director Robert J. Marzec sold 3,701 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $55.38, for a total value of $204,961.38. CEO Joseph F. Puishys purchased 11,000 shares of the stock in a transaction on Friday, September 25th. The stock was acquired at an average cost of $46.11 per share, with a total value of $507,210.00. Following the acquisition, the chief executive officer now owns 238,423 shares of the company’s stock, valued at approximately $10,993,684.53.
Apogee Enterprises shared opened at 46.41 on Friday. The stock’s 50 day moving average is $52.23 and its 200-day moving average is $52.23. Apogee Enterprises has a one year low of $36.59 and a one year high of $61.05. The company has a market cap of $1.35 billion and a P/E ratio of 25.09.
Apogee Enterprises last released its quarterly earnings data on Wednesday, September 16th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. During the same period in the prior year, the business earned $0.35 EPS. The firm earned $240.80 million during the quarter. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Apogee Enterprises will post $2.19 earnings per share for the current year.