Apergy (APY) Stock Rating Reaffirmed by Barclays

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Apergy (NYSE:APY)‘s stock had its “buy” rating restated by Barclays in a report released on Wednesday. They currently have a $42.00 price target on the stock. Barclays‘s price objective would indicate a potential upside of 3.99% from the stock’s previous close.

APY has been the subject of a number of other reports. Zacks Investment Research downgraded Apergy from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Citigroup lowered their price objective on Apergy from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Johnson Rice initiated coverage on Apergy in a research report on Thursday, January 10th. They set an “accumulate” rating and a $38.00 price objective for the company. Bank of America initiated coverage on Apergy in a research report on Monday, December 3rd. They set a “buy” rating and a $40.00 price objective for the company. Finally, Gabelli initiated coverage on Apergy in a research report on Wednesday, January 23rd. They set a “buy” rating and a $44.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Apergy currently has a consensus rating of “Buy” and an average price target of $43.56.

Shares of Apergy stock traded up $0.17 on Wednesday, reaching $40.39. 17,954 shares of the company were exchanged, compared to its average volume of 378,632. Apergy has a 1-year low of $25.85 and a 1-year high of $46.11. The company has a market cap of $3.03 billion and a PE ratio of 28.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.63.

Apergy (NYSE:APY) last announced its quarterly earnings data on Tuesday, February 19th. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.03. Apergy had a return on equity of 9.73% and a net margin of 7.77%. The business had revenue of $311.20 million during the quarter, compared to the consensus estimate of $307.10 million. On average, sell-side analysts predict that Apergy will post 1.34 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of APY. Fort L.P. purchased a new stake in Apergy during the fourth quarter worth approximately $30,000. Phocas Financial Corp. purchased a new stake in Apergy during the fourth quarter worth approximately $30,000. Cornerstone Advisors Inc. lifted its stake in Apergy by 583.5% during the third quarter. Cornerstone Advisors Inc. now owns 704 shares of the company’s stock worth $31,000 after purchasing an additional 601 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Apergy by 2,643.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 837,016 shares of the company’s stock worth $31,000 after purchasing an additional 806,508 shares during the last quarter. Finally, Essex Savings Bank purchased a new stake in Apergy during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 90.14% of the company’s stock.

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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Analyst Recommendations for Apergy (NYSE:APY)

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