Archrock Partners LP (APLP) Cut to “Hold” at Zacks Investment Research
Archrock Partners LP (NASDAQ:APLP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Archrock Partners LP is a master limited partnership. The company provides natural gas contract compression services primarily in the United States. Archrock Partners LP, formerly known as Exterran Partners, L.P., is based in Houston, Texas. “
A number of other equities research analysts have also issued reports on APLP. Goldman Sachs Group Inc. raised shares of Archrock Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $14.00 in a report on Tuesday, June 21st. Capital One Financial Corp. raised shares of Archrock Partners from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Tuesday, June 21st. Royal Bank Of Canada cut their price objective on shares of Archrock Partners from $14.00 to $8.00 and set a “sector perform” rating for the company in a report on Friday, August 5th. Credit Suisse Group AG set a $17.00 price objective on shares of Archrock Partners and gave the company a “buy” rating in a report on Friday, August 5th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $14.00 price objective (up from $8.00) on shares of Archrock Partners in a report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.89.
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Shares of Archrock Partners (NASDAQ:APLP) traded down 1.40% on Wednesday, hitting $15.48. 133,248 shares of the company traded hands. The stock’s market capitalization is $929.34 million. Archrock Partners has a 1-year low of $5.36 and a 1-year high of $20.96. The firm’s 50 day moving average price is $14.81 and its 200-day moving average price is $13.62.
Archrock Partners (NASDAQ:APLP) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business earned $140.05 million during the quarter, compared to analyst estimates of $146.04 million. During the same period last year, the firm posted $0.33 EPS. The company’s revenue was down 16.5% on a year-over-year basis. On average, equities research analysts expect that Archrock Partners will post $0.48 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of APLP. Huntington National Bank purchased a new position in Archrock Partners during the second quarter worth approximately $109,000. HITE Hedge Asset Management LLC increased its stake in shares of Archrock Partners by 55.0% in the second quarter. HITE Hedge Asset Management LLC now owns 976,531 shares of the company’s stock worth $13,222,000 after buying an additional 346,651 shares in the last quarter. Royal Bank of Canada increased its stake in shares of 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. Babson Capital Management LLC increased its stake in shares of Archrock Partners by 30.5% in the first quarter. Babson Capital Management LLC now owns 180,700 shares of the company’s stock worth $2,002,000 after buying an additional 42,200 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Archrock Partners by 4.4% in the first quarter. Barclays PLC now owns 61,241 shares of the company’s stock worth $674,000 after buying an additional 2,566 shares in the last quarter. Hedge funds and other institutional investors own 45.11% of the company’s stock.
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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