Apergy Corp (NYSE:APY) Receives $40.63 Consensus Price Target from Brokerages

Apergy Corp (NYSE:APY) has earned an average recommendation of “Buy” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $40.63.

Several research analysts have recently weighed in on the company. Jefferies Financial Group cut their price target on Apergy from $48.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Citigroup downgraded Apergy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $41.00 to $34.00 in a research note on Tuesday, July 9th. Wells Fargo & Co reiterated a “buy” rating on shares of Apergy in a research note on Thursday, June 27th. Bank of America reiterated a “buy” rating and set a $40.00 price target (down previously from $51.00) on shares of Apergy in a research note on Tuesday, June 25th. Finally, Barclays set a $39.00 price target on Apergy and gave the stock a “buy” rating in a research note on Friday, July 26th.

A number of hedge funds and other institutional investors have recently modified their holdings of APY. Nuveen Asset Management LLC boosted its stake in Apergy by 140.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,575,259 shares of the company’s stock worth $52,834,000 after purchasing an additional 918,924 shares during the period. Janus Henderson Group PLC boosted its stake in Apergy by 39.1% in the 2nd quarter. Janus Henderson Group PLC now owns 2,250,965 shares of the company’s stock worth $75,497,000 after purchasing an additional 632,150 shares during the period. Norges Bank bought a new position in Apergy in the 4th quarter worth about $16,533,000. Bank of New York Mellon Corp boosted its stake in Apergy by 18.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,401,157 shares of the company’s stock worth $114,074,000 after purchasing an additional 532,281 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in Apergy by 460.7% in the 1st quarter. TimesSquare Capital Management LLC now owns 470,400 shares of the company’s stock worth $19,315,000 after purchasing an additional 386,500 shares during the period. Institutional investors and hedge funds own 92.98% of the company’s stock.

Shares of Apergy stock traded down $0.02 during trading hours on Friday, hitting $26.09. 599,400 shares of the company’s stock traded hands, compared to its average volume of 669,800. Apergy has a 12-month low of $25.51 and a 12-month high of $46.11. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.37 and a beta of 2.18. The company has a fifty day simple moving average of $30.86 and a 200-day simple moving average of $35.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.63 and a quick ratio of 1.47.

Apergy (NYSE:APY) last announced its earnings results on Wednesday, July 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $306.05 million during the quarter, compared to analyst estimates of $310.64 million. Apergy had a return on equity of 10.86% and a net margin of 7.60%. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts forecast that Apergy will post 1.35 EPS for the current fiscal year.

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.

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Analyst Recommendations for Apergy (NYSE:APY)

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