Approach Resources Receives Consensus Rating of “Hold” from Brokerages (NASDAQ:AREX)
Shares of Approach Resources (NASDAQ:AREX) have received an average rating of “Hold” from the twenty-three analysts that are presently covering the stock, Analyst RN reports. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $27.05.
A number of analysts have recently weighed in on AREX shares. Analysts at Howard Weil downgraded shares of Approach Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday. They now have a $28.00 price target on the stock, down previously from $34.00. Separately, analysts at Robert W. Baird downgraded shares of Approach Resources from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $23.00 price target on the stock, down previously from $30.00. Finally, analysts at Mizuho cut their price target on shares of Approach Resources from $21.00 to $20.00 in a research note on Tuesday, August 5th. They now have a “neutral” rating on the stock.
Approach Resources (NASDAQ:AREX) opened at 18.03 on Wednesday. Approach Resources has a 52 week low of $17.30 and a 52 week high of $31.67. The stock’s 50-day moving average is $21.40 and its 200-day moving average is $20.67. The company has a market cap of $709.8 million and a price-to-earnings ratio of 9.60.
Approach Resources (NASDAQ:AREX) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.23 by $0.01. The company had revenue of $73.41 million for the quarter, compared to the consensus estimate of $66.06 million. During the same quarter last year, the company posted $0.13 earnings per share. Approach Resources’s revenue was up 73.7% compared to the same quarter last year. Analysts expect that Approach Resources will post $0.90 EPS for the current fiscal year.
Approach Resources Inc, is an independent energy company engaged in the exploration, development, production and acquisition of oil and gas properties.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.