Zacks Investment Research upgraded shares of Apogee Enterprises Inc. (APOG) from NEUTRAL to OUTPERFORM on August 06, 2012, with a target price of $18.00.
We have upgraded our recommendation on Apogee to Outperform from Neutral with a target price of $18. The company's first-quarter fiscal 2013 earnings were $0.06 per share, reversing the prior year loss of $0.08 and doubling the Zacks Consensus Estimate of $0.03. Total revenues improved 1% to $154.1 million, missing the Zacks Consensus Estimate of $164 million. Apogee is focused on increasing its exposure in the U.S. market, which will help top-line growth moving forward. It has increased its earnings guidance range and raised its quarterly dividend by 10% to $0.09 per share.
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