Wolfe Research initiated coverage on shares of Apergy (NYSE:APY) in a research note published on Wednesday morning, MarketBeat.com reports. The firm issued an outperform rating on the stock.
APY has been the subject of several other reports. Zacks Investment Research downgraded shares of Apergy from a buy rating to a hold rating in a research note on Tuesday, September 18th. Cowen boosted their target price on shares of Apergy from $37.00 to $39.00 and gave the company a market perform rating in a research report on Tuesday, August 7th. Jefferies Financial Group began coverage on shares of Apergy in a research report on Tuesday, July 17th. They set a buy rating and a $50.00 target price for the company. Finally, Citigroup boosted their target price on shares of Apergy from $46.00 to $52.00 and gave the company a buy rating in a research report on Wednesday, July 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Apergy has a consensus rating of Buy and a consensus price target of $46.50.
NYSE:APY opened at $42.45 on Wednesday. Apergy has a 12 month low of $33.35 and a 12 month high of $46.11. The company has a current ratio of 2.31, a quick ratio of 1.36 and a debt-to-equity ratio of 0.75.
Apergy (NYSE:APY) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.02). The firm had revenue of $305.93 million for the quarter, compared to analyst estimates of $296.70 million. As a group, research analysts expect that Apergy will post 1.42 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of APY. Osborn Williams & Donohoe LLC acquired a new position in Apergy during the second quarter valued at $418,000. State of Alaska Department of Revenue purchased a new position in Apergy in the second quarter valued at $317,000. Trust Co. of Vermont purchased a new position in Apergy in the second quarter valued at $114,000. Columbia Partners L L C Investment Management purchased a new position in Apergy in the second quarter valued at $517,000. Finally, Palo Capital Inc. purchased a new position in Apergy in the second quarter valued at $650,000. Institutional investors own 93.11% of the company’s stock.
Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through Production & Automation Technologies and Drilling Technologies segments. 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, as well as automation equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.
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