Archrock Partners LP (NASDAQ:APLP) Given Average Recommendation of “Buy” by Analysts
Shares of Archrock Partners LP (NASDAQ:APLP) have received a consensus rating of “Buy” from the ten research firms that are presently covering the company. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $14.89.
A number of equities research analysts recently weighed in on APLP shares. Royal Bank Of Canada lowered their target price on shares of Archrock Partners from $14.00 to $8.00 and set a “sector perform” rating on the stock in a report on Friday, August 5th. Zacks Investment Research lowered shares of Archrock Partners from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. RBC Capital Markets restated a “sector perform” rating and issued a $14.00 target price (up previously from $8.00) on shares of Archrock Partners in a report on Friday, August 5th. Capital One Financial Corp. upgraded shares of Archrock Partners from an “equal weight” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Tuesday, June 21st. Finally, Credit Suisse Group AG set a $17.00 target price on shares of Archrock Partners and gave the stock a “buy” rating in a report on Friday, August 5th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Archrock Partners by 0.7% in the first quarter. Royal Bank of Canada now owns 36,906 shares of the company’s stock worth $409,000 after buying an additional 270 shares in the last quarter. Mariner Wealth Advisors LLC increased its position in Archrock Partners by 2.3% in the second quarter. Mariner Wealth Advisors LLC now owns 20,461 shares of the company’s stock worth $277,000 after buying an additional 461 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Archrock Partners by 2.2% in the second quarter. Chicago Partners Investment Group LLC now owns 21,693 shares of the company’s stock worth $294,000 after buying an additional 464 shares in the last quarter. Clinton Group Inc. increased its position in Archrock Partners by 6.3% in the second quarter. Clinton Group Inc. now owns 16,911 shares of the company’s stock worth $229,000 after buying an additional 1,004 shares in the last quarter. Finally, State Street Corp increased its position in Archrock Partners by 3.9% in the first quarter. State Street Corp now owns 31,089 shares of the company’s stock worth $344,000 after buying an additional 1,164 shares in the last quarter. 45.11% of the stock is owned by hedge funds and other institutional investors.
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Shares of Archrock Partners (NASDAQ:APLP) traded up 3.19% during midday trading on Monday, hitting $16.15. The stock had a trading volume of 69,134 shares. The stock’s 50-day moving average price is $14.75 and its 200 day moving average price is $13.52. Archrock Partners has a 52 week low of $5.36 and a 52 week high of $20.96. The company’s market cap is $969.57 million.
Archrock Partners (NASDAQ:APLP) last posted its earnings results on Thursday, August 4th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.08. Archrock Partners had a negative net margin of 19.90% and a positive return on equity of 10.41%. The company had revenue of $140.05 million for the quarter, compared to analyst estimates of $146.04 million. During the same quarter in the prior year, the business posted $0.33 EPS. The firm’s revenue was down 16.5% compared to the same quarter last year. On average, equities analysts forecast that Archrock Partners will post $0.48 earnings per share for the current year.
Archrock Partners Company Profile
Archrock Partners, L.P., formerly Exterran Partners, L.P., is engaged in the United States natural gas compression business. The Company provides contract operations services, including the personnel, equipment, tools, materials and supplies to meet its customers’ natural gas compression needs. The Company’s contract operations services primarily include designing, sourcing, owning, installing, operating, servicing, repairing and maintaining equipment to provide natural gas compression services to its customers.
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