Apergy (NYSE:APY) had its target price trimmed by Wells Fargo & Co from $39.00 to $36.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the stock.
Other analysts have also recently issued research reports about the company. Jefferies Financial Group reduced their price objective on Apergy from $48.00 to $37.00 and set a buy rating for the company in a research report on Tuesday, June 25th. Zacks Investment Research cut Apergy from a hold rating to a strong sell rating in a research report on Wednesday, July 3rd. Barclays set a $39.00 price objective on Apergy and gave the company a buy rating in a research report on Friday, July 26th. Bank of America reiterated a buy rating and set a $40.00 price objective (down previously from $51.00) on shares of Apergy in a research report on Tuesday, June 25th. Finally, Citigroup cut Apergy from a buy rating to a neutral rating and reduced their price objective for the company from $41.00 to $34.00 in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Apergy has a consensus rating of Buy and a consensus target price of $40.90.
Shares of NYSE:APY opened at $28.76 on Thursday. The company has a market cap of $2.23 billion, a P/E ratio of 19.97, a PEG ratio of 1.44 and a beta of 2.28. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.63 and a quick ratio of 1.47. Apergy has a 1 year low of $23.80 and a 1 year high of $46.11. The stock’s fifty day moving average price is $28.13 and its 200-day moving average price is $34.49.
Apergy (NYSE:APY) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $306.05 million during the quarter, compared to analysts’ expectations of $310.64 million. Apergy had a return on equity of 10.86% and a net margin of 7.60%. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts anticipate that Apergy will post 1.35 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Apergy by 2.4% in the first quarter. BlackRock Inc. now owns 7,173,535 shares of the company’s stock worth $294,545,000 after buying an additional 165,565 shares in the last quarter. Bank of New York Mellon Corp increased its position in Apergy by 18.6% in the second quarter. Bank of New York Mellon Corp now owns 3,401,157 shares of the company’s stock worth $114,074,000 after buying an additional 532,281 shares in the last quarter. Janus Henderson Group PLC increased its position in Apergy by 39.1% in the second quarter. Janus Henderson Group PLC now owns 2,250,965 shares of the company’s stock worth $75,497,000 after buying an additional 632,150 shares in the last quarter. Bessemer Group Inc. increased its position in Apergy by 0.9% in the second quarter. Bessemer Group Inc. now owns 2,108,425 shares of the company’s stock worth $70,715,000 after buying an additional 18,271 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in Apergy by 8.7% in the first quarter. Neuberger Berman Group LLC now owns 1,729,678 shares of the company’s stock worth $71,021,000 after buying an additional 138,145 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.
Apergy Company Profile
Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through two segments, Production & Automation Technologies and Drilling Technologies. The Production & Automation Technologies segment offers artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.
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