Cowen reaffirmed their hold rating on shares of Apergy (NYSE:APY) in a research note published on Monday morning. The firm currently has a $40.00 price objective on the stock.
Other research analysts have also issued reports about the stock. Bank of America initiated coverage on shares of Apergy in a report on Monday. They issued a buy rating and a $40.00 price objective for the company. Citigroup decreased their price objective on shares of Apergy from $47.00 to $46.00 and set a buy rating for the company in a report on Friday, November 2nd. Zacks Investment Research upgraded shares of Apergy from a hold rating to a buy rating and set a $49.00 price objective for the company in a report on Thursday, October 11th. Finally, Wolfe Research assumed coverage on shares of Apergy in a research report on Wednesday, October 10th. They issued an outperform rating on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $44.86.
Shares of NYSE APY opened at $33.11 on Monday. The company has a current ratio of 2.47, a quick ratio of 1.46 and a debt-to-equity ratio of 0.71. Apergy has a 12 month low of $33.02 and a 12 month high of $46.11.
Apergy (NYSE:APY) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.05. Apergy had a net margin of 11.29% and a return on equity of 10.99%. The business had revenue of $316.47 million during the quarter, compared to analyst estimates of $321.60 million. Sell-side analysts anticipate that Apergy will post 1.45 EPS for the current year.
Several large investors have recently added to or reduced their stakes in APY. BlackRock Inc. purchased a new stake in shares of Apergy in the 2nd quarter worth about $301,425,000. Boston Partners purchased a new stake in shares of Apergy during the 2nd quarter valued at about $260,851,000. FMR LLC purchased a new stake in shares of Apergy during the 2nd quarter valued at about $164,211,000. Bank of New York Mellon Corp purchased a new stake in shares of Apergy during the 2nd quarter valued at about $137,135,000. Finally, Bank of America Corp DE purchased a new stake in shares of Apergy during the 2nd quarter valued at about $58,496,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.
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 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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