Apergy (NYSE:APY) had its price target decreased by equities research analysts at Wells Fargo & Co from $39.00 to $36.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the stock. Wells Fargo & Co‘s price objective would suggest a potential upside of 24.27% from the company’s current price.
APY has been the subject of a number of other research reports. Zacks Investment Research cut Apergy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 3rd. Jefferies Financial Group lowered their target price on Apergy from $48.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Citigroup cut Apergy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $41.00 to $34.00 in a report on Tuesday, July 9th. Bank of America reaffirmed 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, Barclays set a $39.00 target price on Apergy and gave the company a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $40.90.
NYSE APY opened at $28.97 on Thursday. The company has a quick ratio of 1.47, a current ratio of 2.63 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $28.19 and its 200 day moving average is $34.55. Apergy has a twelve month low of $23.80 and a twelve month high of $46.11. The firm has a market capitalization of $2.26 billion, a PE ratio of 20.12, a P/E/G ratio of 1.46 and a beta of 2.28.
Apergy (NYSE:APY) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Apergy had a return on equity of 10.86% and a net margin of 7.60%. The business had revenue of $306.05 million during the quarter, compared to analysts’ expectations of $310.64 million. The company’s revenue was up .1% on a year-over-year basis. On average, research analysts anticipate that Apergy will post 1.35 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Farmers National Bank bought a new position in Apergy during the first quarter worth $27,000. Meeder Asset Management Inc. increased its position in Apergy by 136.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 925 shares of the company’s stock valued at $31,000 after purchasing an additional 533 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Apergy during the 2nd quarter worth approximately $35,000. Phocas Financial Corp. bought a new position in shares of Apergy in the 2nd quarter worth $37,000. Finally, Bremer Bank National Association bought a new position in shares of Apergy in the 1st quarter worth $41,000. 94.01% 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 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.
Further Reading: Quick Ratio
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