Apergy Corp (NYSE:APY)’s share price dropped 5.9% during mid-day trading on Friday . The company traded as low as $33.96 and last traded at $34.43. Approximately 681,217 shares changed hands during trading, an increase of 44% from the average daily volume of 474,303 shares. The stock had previously closed at $36.59.
APY has been the topic of a number of recent analyst reports. Gabelli initiated coverage on Apergy in a report on Wednesday, January 23rd. They set a “buy” rating and a $44.00 target price on the stock. Jefferies Financial Group raised their target price on Apergy to $49.00 and gave the stock a “buy” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Cowen set a $42.00 target price on Apergy and gave the stock a “buy” rating in a report on Wednesday, February 20th. Wells Fargo & Co initiated coverage on Apergy in a report on Monday, March 4th. They set an “outperform” rating and a $52.00 target price on the stock. Finally, Zacks Investment Research upgraded Apergy from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $45.80.
The company has a debt-to-equity ratio of 0.63, a current ratio of 2.53 and a quick ratio of 1.44. The firm has a market cap of $2.90 billion and a price-to-earnings ratio of 23.91.
Apergy (NYSE:APY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Apergy had a return on equity of 11.40% and a net margin of 7.47%. The business had revenue of $301.70 million for the quarter, compared to analysts’ expectations of $301.37 million. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts expect that Apergy Corp will post 1.47 earnings per share for the current year.
In other news, CEO Sivasankaran Somasundaram sold 893 shares of Apergy stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $41.77, for a total transaction of $37,300.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,128 shares of company stock worth $47,064 in the last quarter. 0.77% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in Apergy in the 3rd quarter valued at approximately $556,000. Federated Investors Inc. PA raised its position in Apergy by 239.8% in the 3rd quarter. Federated Investors Inc. PA now owns 103,833 shares of the company’s stock valued at $4,523,000 after buying an additional 73,277 shares during the last quarter. BB&T Corp raised its position in Apergy by 32.8% in the 4th quarter. BB&T Corp now owns 7,421 shares of the company’s stock valued at $201,000 after buying an additional 1,833 shares during the last quarter. Viking Fund Management LLC raised its position in Apergy by 17.4% in the 4th quarter. Viking Fund Management LLC now owns 270,000 shares of the company’s stock valued at $7,312,000 after buying an additional 40,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Apergy in the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 91.85% of the company’s stock.
Apergy Company Profile (NYSE:APY)
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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