Apergy (APY) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Apergy (NYSE:APY) from a sell rating to a hold rating in a research note released on Tuesday.

According to Zacks, “Apergy Corporation provides engineered equipment and technologies. The company’s Production and Automation offerings consist of 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 a full automation offering consisting of equipment, software and Industrial Internet of Things solutions for downhole monitoring, wellsite productivity enhancement and asset integrity management. Apergy Corporation is based in United States. “

A number of other research firms also recently weighed in on APY. Citigroup dropped their price target on shares of Apergy from $47.00 to $46.00 and set a buy rating on the stock in a research note on Friday, November 2nd. Cowen reaffirmed a hold rating and issued a $40.00 price target on shares of Apergy in a research note on Monday, December 3rd. Bank of America assumed coverage on shares of Apergy in a research note on Monday, December 3rd. They issued a buy rating and a $40.00 price target on the stock. Gabelli assumed coverage on shares of Apergy in a research note on Wednesday, January 23rd. They issued a buy rating and a $44.00 price target on the stock. Finally, Johnson Rice initiated coverage on shares of Apergy in a research note on Thursday, January 10th. They issued an accumulate rating and a $38.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $42.89.

NYSE APY opened at $36.22 on Tuesday. Apergy has a 1-year low of $25.85 and a 1-year high of $46.11. The company has a quick ratio of 1.46, a current ratio of 2.47 and a debt-to-equity ratio of 0.71.

A number of institutional investors have recently bought and sold shares of APY. FMR LLC acquired a new position in Apergy during the second quarter worth $164,211,000. Advisors Asset Management Inc. acquired a new position in Apergy during the second quarter worth $322,000. Schroder Investment Management Group acquired a new position in Apergy during the second quarter worth $904,000. Bank of New York Mellon Corp acquired a new position in Apergy during the second quarter worth $137,135,000. Finally, Northern Trust Corp acquired a new position in Apergy during the second quarter worth $38,050,000. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

About Apergy

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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