Apergy (APY) Rating Lowered to Hold at Zacks Investment Research

Share on StockTwits

Apergy (NYSE:APY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Apergy Corporation provides engineered equipment and technologies. The company’s Production and Automation offerings consist of 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 a full automation offering consisting of equipment, software and Industrial Internet of Things solutions for downhole monitoring, wellsite productivity enhancement and asset integrity management. Apergy Corporation is based in United States. “

APY has been the topic of a number of other research reports. Cowen boosted their price target on shares of Apergy from $37.00 to $39.00 and gave the company a “market perform” rating in a report on Tuesday, August 7th. Jefferies Financial Group started coverage on shares of Apergy in a report on Tuesday, July 17th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Apergy from $46.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Apergy has an average rating of “Buy” and an average target price of $46.33.

Shares of NYSE APY traded up $0.52 during midday trading on Tuesday, reaching $43.82. The company’s stock had a trading volume of 14,004 shares, compared to its average volume of 458,342. The company has a current ratio of 2.31, a quick ratio of 1.36 and a debt-to-equity ratio of 0.75. Apergy has a one year low of $33.35 and a one year high of $46.11.

Apergy (NYSE:APY) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). The firm had revenue of $305.93 million for the quarter, compared to analyst estimates of $296.70 million. sell-side analysts anticipate that Apergy will post 1.42 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Apergy in the 2nd quarter valued at approximately $301,425,000. Boston Partners bought a new stake in Apergy in the second quarter worth approximately $260,851,000. FMR LLC bought a new stake in Apergy in the second quarter worth approximately $164,211,000. Bank of New York Mellon Corp bought a new stake in Apergy in the second quarter worth approximately $137,135,000. Finally, Ruffer LLP bought a new stake in Apergy in the second quarter worth approximately $82,093,000. Hedge funds and other institutional investors own 93.07% 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.

See Also: Asset Allocation

Get a free copy of the Zacks research report on Apergy (APY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Apergy (NYSE:APY)

Receive News & Ratings for Apergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apergy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply