Citadel Advisors LLC Buys New Stake in Apergy Corp (APY)
Citadel Advisors LLC bought a new stake in Apergy Corp (NYSE:APY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 192,459 shares of the company’s stock, valued at approximately $8,383,000. Citadel Advisors LLC owned approximately 0.25% of Apergy at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. American International Group Inc. increased its position in Apergy by 0.9% in the 3rd quarter. American International Group Inc. now owns 157,221 shares of the company’s stock valued at $6,849,000 after buying an additional 1,439 shares in the last quarter. Hsbc Holdings PLC increased its position in Apergy by 7.0% in the 3rd quarter. Hsbc Holdings PLC now owns 33,654 shares of the company’s stock valued at $1,465,000 after buying an additional 2,187 shares in the last quarter. Ancora Advisors LLC bought a new stake in Apergy in the 3rd quarter valued at about $107,000. Envestnet Asset Management Inc. bought a new stake in Apergy in the 2nd quarter valued at about $105,000. Finally, Endurance Wealth Management Inc. bought a new stake in Apergy in the 3rd quarter valued at about $119,000. 91.69% of the stock is owned by institutional investors and hedge funds.
APY has been the subject of a number of analyst reports. Zacks Investment Research downgraded Apergy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Wolfe Research initiated coverage on Apergy in a research note on Wednesday, October 10th. They set an “outperform” rating for the company. Citigroup cut their price target on Apergy from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Cowen reiterated a “hold” rating and set a $40.00 price target on shares of Apergy in a research note on Monday. Finally, Bank of America initiated coverage on Apergy in a research note on Monday. They set a “buy” rating and a $40.00 price target for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $44.86.
Apergy (NYSE:APY) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $316.47 million during the quarter, compared to the consensus estimate of $321.60 million. Apergy had a return on equity of 10.99% and a net margin of 11.29%. Equities analysts forecast that Apergy Corp will post 1.43 EPS for the current year.
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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.
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