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Downgrade Alert for Apogee Enterprises (APOG)

By Amy Schwartz

Apogee Enterprises (NASDAQ:APOG) was downgraded from Buy to Neutral at Goldman Sachs today. The stock closed yesterday at $46.63 on volume of 288,000 shares, above average daily volume of 269,000.

Apogee Enterprises, Inc. designs and develops value-added glass products, services, and systems. The Company's products include architectural glass, glass coatings for the electronics markets, and replacement auto glass. The Company also provides building glass installation and replacement services. Apogee Enterprises operates around the world.

Apogee Enterprises share prices have moved between a 52-week high of $61.05 and a 52-week low of $33.67 and closed yesterday at 38% above that low price at $46.63 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.5%.

There is potential upside of 45.8% for shares of Apogee Enterprises based on a current price of $46.63 and an average consensus analyst price target of $68.00. The stock should discover initial support at its 200-day moving average (MA) of $46.04 and subsequent support at its 50-day MA of $42.49.

SmarTrend is monitoring the recent change of momentum in Apogee Enterprises. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Apogee Enterprises in search of a potential trend change.

Keywords: analyst upgrades/downgrades apogee enterprises

Ticker(s): APOG