Apollo Global Management (NYSE:APO) Upgraded to Buy by Zacks Investment Research

Apollo Global Management (NYSE:APO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $42.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.27% from the stock’s current price.

According to Zacks, “Apollo Global Management LLC provides alternative asset manager services. It operates primarily in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo Global Management LLC is based in New York, United States. “

APO has been the subject of a number of other reports. Bank of America boosted their price objective on Apollo Global Management from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. UBS Group upped their price target on Apollo Global Management from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Morgan Stanley upped their price target on Apollo Global Management from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Barclays started coverage on Apollo Global Management in a research note on Monday, August 5th. They issued an “overweight” rating and a $45.00 price target for the company. Finally, JMP Securities upped their price target on Apollo Global Management from $36.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $41.82.

Shares of NYSE:APO traded down $0.74 during mid-day trading on Tuesday, reaching $37.08. 1,697,230 shares of the company traded hands, compared to its average volume of 1,498,277. The company’s 50 day moving average price is $37.66 and its 200-day moving average price is $33.57. The firm has a market cap of $7.59 billion, a PE ratio of -176.57, a PEG ratio of 1.03 and a beta of 1.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.64 and a quick ratio of 1.64. Apollo Global Management has a 52 week low of $22.63 and a 52 week high of $41.79.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.02). The company had revenue of $523.30 million during the quarter, compared to the consensus estimate of $398.72 million. The company’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. On average, research analysts predict that Apollo Global Management will post 2.39 earnings per share for the current fiscal year.

In other news, Director Pauline Richards bought 2,720 shares of the stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $30.85 per share, for a total transaction of $83,912.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $39.96, for a total value of $159,840.00. The disclosure for this sale can be found here. Corporate insiders own 46.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners bought a new position in shares of Apollo Global Management during the 2nd quarter valued at approximately $125,000. Royal Bank of Canada boosted its position in shares of Apollo Global Management by 7.0% during the 2nd quarter. Royal Bank of Canada now owns 98,758 shares of the financial services provider’s stock valued at $3,388,000 after acquiring an additional 6,455 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Apollo Global Management by 5.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 31,421 shares of the financial services provider’s stock valued at $1,078,000 after acquiring an additional 1,566 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Apollo Global Management during the 2nd quarter valued at approximately $19,021,000. Finally, Bluefin Trading LLC bought a new position in shares of Apollo Global Management during the 2nd quarter valued at approximately $1,080,000. Hedge funds and other institutional investors own 72.55% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

Featured Article: Treasury Bonds

Get a free copy of the Zacks research report on Apollo Global Management (APO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Apollo Global Management (NYSE:APO)

Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.