State of Tennessee Treasury Department grew its position in shares of Apergy Corp (NYSE:APY) by 4.4% during the third quarter, HoldingsChannel.com reports. The firm owned 76,289 shares of the company’s stock after purchasing an additional 3,200 shares during the period. State of Tennessee Treasury Department’s holdings in Apergy were worth $2,064,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of Apergy by 136.0% during the second quarter. Meeder Asset Management Inc. now owns 925 shares of the company’s stock valued at $31,000 after purchasing an additional 533 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Apergy during the second quarter valued at about $35,000. Phocas Financial Corp. acquired a new stake in shares of Apergy during the second quarter valued at about $37,000. Quadrant Capital Group LLC boosted its stake in shares of Apergy by 77.1% during the third quarter. Quadrant Capital Group LLC now owns 1,844 shares of the company’s stock valued at $45,000 after purchasing an additional 803 shares in the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Apergy during the second quarter valued at about $47,000. 94.08% of the stock is currently owned by hedge funds and other institutional investors.
APY has been the topic of a number of recent research reports. Barclays set a $39.00 price target on Apergy and gave the company a “buy” rating in a research note on Friday, July 26th. Citigroup cut their price target on Apergy from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Wells Fargo & Co lowered their price objective on Apergy from $39.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. Zacks Investment Research downgraded Apergy from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Finally, Wolfe Research set a $32.00 price objective on Apergy and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $37.32.
Shares of APY opened at $27.28 on Friday. Apergy Corp has a 1 year low of $23.62 and a 1 year high of $43.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.58 and a quick ratio of 1.51. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 2.13 and a beta of 2.26. The business has a 50-day moving average of $26.30 and a 200-day moving average of $30.45.
Apergy (NYSE:APY) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.06). Apergy had a return on equity of 9.89% and a net margin of 6.87%. The company had revenue of $278.38 million for the quarter, compared to the consensus estimate of $306.68 million. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apergy Corp will post 1.21 EPS for the current year.
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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