Apergy (NYSE:APY) Shares Up 5.4%
Apergy Corp (NYSE:APY) shares shot up 5.4% during trading on Monday . The company traded as high as $27.85 and last traded at $27.51, 483,392 shares traded hands during mid-day trading. A decline of 8% from the average session volume of 525,399 shares. The stock had previously closed at $26.09.
A number of brokerages recently commented on APY. Wells Fargo & Co reissued a “buy” rating on shares of Apergy in a report on Thursday, June 27th. Jefferies Financial Group reduced 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. Zacks Investment Research downgraded Apergy from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 3rd. Citigroup downgraded Apergy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $41.00 to $34.00 in a report on Tuesday, July 9th. Finally, Barclays set a $39.00 target price on Apergy and gave the stock a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.50.
The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.47 and a current ratio of 2.63. The business has a fifty day simple moving average of $30.20 and a 200 day simple moving average of $35.55. The company has a market cap of $2.11 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.36 and a beta of 2.18.
Several institutional investors have recently made changes to their positions in APY. Nuveen Asset Management LLC raised its position in shares of Apergy by 140.0% during 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 raised its position in shares of Apergy by 39.1% during 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 acquired a new stake in shares of Apergy during the 4th quarter worth approximately $16,533,000. Bank of New York Mellon Corp raised its position in shares of Apergy by 18.6% during 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 raised its position in shares of Apergy by 460.7% during 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 93.89% 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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