Goldman Sachs Downgrades Apogee Enterprises Inc to Neutral with Price Target $50.00

Brokerage firm Goldman Sachs Downgrades its rating on Apogee Enterprises Inc(NASDAQ:APOG). In a research note issued to the investors, the brokerage major Lowers the price-target to $50.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Jul 12, 2016.

Apogee Enterprises Inc (APOG) made into the market gainers list on Fridays trading session with the shares advancing 1.28% or 0.6 points. Due to strong positive momentum, the stock ended at $47.33, which is also near the day’s high of $47.57. The stock began the session at $46.96 and the volume stood at 2,87,374 shares. The 52-week high of the shares is $58.36 and the 52 week low is $33.67. The company has a current market capitalization of $1,363 M and it has 2,87,96,293 shares in outstanding.

Apogee Enterprises Inc(APOG) last announced its earnings results on Jun 22, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $247.88M. Analysts had an estimated revenue of $247.18M. Earnings per share were $0.61. Analysts had estimated an EPS of $0.49.

Several Insider Transactions has been reported to the SEC. On Jul 11, 2016, David Ernest Weiss (director) sold 10,000 shares at $46.66 per share price.Also, On Jul 8, 2016, Joseph F. Puishys (Chief Executive Officer & Pres) sold 75,000 shares at $45.95 per share price.On Jul 8, 2016, John Terence Manning (director) sold 4,000 shares at $46.17 per share price, according to the Form-4 filing with the securities and exchange commission.

Apogee Enterprises Inc. is engaged in the design and development of value-added glass solutions for enclosing commercial buildings and framing art. The Company operates in four segments: Architectural Glass Architectural Services Architectural Framing Systems and Large-Scale Optical Technologies. The Architectural Glass segment fabricates glass used in customized window and curtainwall systems comprising the outside skin of buildings. The Architectural Services segment primarily installs and renovates customized aluminum and glass window and curtainwall systems comprising the outside skin of buildings. The Architectural Framing Systems segment designs engineers and fabricates the aluminum frames used in customized aluminum and glass window curtainwall storefront and entrance systems comprising the outside skin and entrances of buildings. Large-Scale Optical Technologies segment manufactures value-added glass and acrylic products primarily for the custom picture framing market.

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