Citigroup Downgrades Apergy (NYSE:APY) to Neutral
Citigroup cut shares of Apergy (NYSE:APY) from a buy rating to a neutral rating in a research report report published on Tuesday, Benzinga’s Daily Ratings Newsletter reports. The brokerage currently has $34.00 price objective on the stock, down from their prior price objective of $41.00.
A number of other brokerages have also recently issued reports on APY. Jefferies Financial Group raised SALVATORE FERRA/ADR from an underperform rating to a hold rating in a report on Tuesday, June 25th. Piper Jaffray Companies initiated coverage on Apergy in a report on Wednesday, April 3rd. They issued an overweight rating and a $41.03 target price for the company. Johnson Rice raised Apergy from an accumulate rating to a buy rating and increased their target price for the stock from $45.00 to $48.00 in a report on Monday, March 11th. Wells Fargo & Co reissued a buy rating on shares of Helmerich & Payne in a report on Thursday, June 27th. Finally, Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Apergy currently has a consensus rating of Buy and an average target price of $42.80.
Shares of APY opened at $31.79 on Tuesday. Apergy has a 1 year low of $25.85 and a 1 year high of $46.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.44 and a current ratio of 2.53. The stock has a 50 day moving average of $31.89. The firm has a market cap of $2.43 billion, a PE ratio of 21.97, a PEG ratio of 1.35 and a beta of 2.19.
A number of hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in Apergy by 0.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 52,342 shares of the company’s stock valued at $1,756,000 after purchasing an additional 400 shares in the last quarter. American International Group Inc. increased its holdings in Apergy by 0.3% during the 4th quarter. American International Group Inc. now owns 157,649 shares of the company’s stock valued at $4,269,000 after purchasing an additional 428 shares in the last quarter. Neuburgh Advisers LLC increased its holdings in Apergy by 5.6% during the 4th quarter. Neuburgh Advisers LLC now owns 9,614 shares of the company’s stock valued at $260,000 after purchasing an additional 506 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Apergy by 1.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,839 shares of the company’s stock valued at $1,923,000 after purchasing an additional 552 shares in the last quarter. Finally, Mason Street Advisors LLC increased its holdings in Apergy by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 41,134 shares of the company’s stock valued at $1,689,000 after purchasing an additional 623 shares in the last quarter. 92.25% of the stock is owned by hedge funds and other institutional investors.
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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