Apergy (APY) PT Lowered to $46.00 at Citigroup

Apergy (NYSE:APY) had its price target reduced by equities research analysts at Citigroup from $47.00 to $46.00 in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 10.84% from the stock’s previous close.

A number of other analysts also recently commented on APY. Zacks Investment Research downgraded shares of Apergy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Jefferies Financial Group assumed coverage on shares of Apergy in a research report on Tuesday, July 17th. They set a “buy” rating and a $50.00 price target on the stock. Cowen boosted their price target on shares of Apergy from $37.00 to $39.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 7th. Finally, Wolfe Research started coverage on shares of Apergy in a report on Wednesday, October 10th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.50.

Shares of APY stock traded up $1.22 during midday trading on Friday, reaching $41.50. 652,106 shares of the company were exchanged, compared to its average volume of 975,008. Apergy has a 12 month low of $33.35 and a 12 month high of $46.11. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.36 and a current ratio of 2.31.

Apergy (NYSE:APY) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $316.47 million for the quarter, compared to the consensus estimate of $321.60 million. Equities analysts anticipate that Apergy will post 1.43 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. bought a new stake in shares of Apergy in the 2nd quarter worth approximately $105,000. Trust Co. of Vermont bought a new stake in shares of Apergy in the 2nd quarter worth approximately $114,000. Endurance Wealth Management Inc. bought a new stake in shares of Apergy in the 3rd quarter worth approximately $119,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Apergy in the 2nd quarter worth approximately $119,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Apergy in the 2nd quarter worth approximately $122,000. Institutional investors and hedge funds own 92.89% of the company’s stock.

About Apergy

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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