Apergy (NYSE:APY) Price Target Cut to $36.00 by Analysts at Wells Fargo & Co

Apergy (NYSE:APY) had its target price decreased by Wells Fargo & Co from $39.00 to $36.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has an outperform rating on the stock.

A number of other analysts have also recently commented on APY. Jefferies Financial Group lowered their price target on Apergy from $48.00 to $37.00 and set a buy rating for the company in a research report on Tuesday, June 25th. Barclays set a $39.00 price target on Apergy and gave the stock a buy rating in a research report on Friday, July 26th. Zacks Investment Research cut Apergy from a hold rating to a strong sell rating in a research report on Wednesday, July 3rd. Bank of America reaffirmed a buy rating and set a $40.00 price target (down previously from $51.00) on shares of Apergy in a research report on Tuesday, June 25th. Finally, Citigroup cut Apergy from a buy rating to a neutral rating and lowered their price target for the stock from $41.00 to $34.00 in a research report on Tuesday, July 9th. One equities 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 company’s stock. Apergy currently has an average rating of Buy and an average target price of $40.90.

Apergy stock opened at $28.76 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.63 and a quick ratio of 1.47. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 1.44 and a beta of 2.28. Apergy has a 1-year low of $23.80 and a 1-year high of $46.11. The business has a fifty day moving average price of $28.13 and a 200-day moving average price of $34.49.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farmers National Bank purchased a new position in shares of Apergy during the 1st quarter valued at about $27,000. Meeder Asset Management Inc. raised its stake in shares of Apergy by 136.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 925 shares of the company’s stock valued at $31,000 after buying an additional 533 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Apergy during the 2nd quarter valued at about $35,000. Phocas Financial Corp. purchased a new position in shares of Apergy during the 2nd quarter valued at about $37,000. Finally, Bremer Bank National Association purchased a new position in shares of Apergy during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 93.99% 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 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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