Apollo Global Management LLC (NYSE:APO) hit a new 52-week high on Friday after Wells Fargo & Co raised their price target on the stock from $53.00 to $61.00. Wells Fargo & Co currently has an overweight rating on the stock. Apollo Global Management traded as high as $50.37 and last traded at $50.20, with a volume of 921542 shares trading hands. The stock had previously closed at $49.08.
A number of other brokerages have also recently weighed in on APO. Zacks Investment Research cut Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Citigroup reaffirmed a “buy” rating and issued a $53.00 price objective (up from $49.00) on shares of Apollo Global Management in a research note on Tuesday, October 29th. BMO Capital Markets started coverage on Apollo Global Management in a research note on Monday, October 7th. They issued an “outperform” rating and a $52.00 price objective for the company. Bank of America lifted 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. Finally, Barclays lifted their price objective on Apollo Global Management from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.77.
In related news, major shareholder Tiger Global Management Llc sold 3,750,000 shares of Apollo Global Management stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $49.06, for a total value of $183,975,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 46.90% of the company’s stock.
The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of -239.05, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.12. The stock’s 50-day simple moving average is $46.68 and its 200 day simple moving average is $40.24.
Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.03). The business had revenue of $401.38 million for the quarter, compared to analysts’ expectations of $404.24 million. During the same quarter in the previous year, the business posted $0.83 EPS. As a group, equities research analysts anticipate that Apollo Global Management LLC will post 2.33 earnings per share for the current year.
Apollo Global Management Company Profile (NYSE:APO)
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.
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