Zacks Investment Research Upgrades Archrock Partners LP (APLP) to Strong-Buy
Archrock Partners LP (NASDAQ:APLP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday. The firm currently has a $17.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 15.88% from the stock’s previous close.
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. “
Several other research analysts have also recently commented on APLP. 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. RBC Capital Markets reiterated a “sector perform” rating and issued a $14.00 target price (up 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 for the company in a report on Tuesday, June 21st. Goldman Sachs Group Inc. upgraded shares of Archrock Partners from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.00 to $14.00 in a report on Tuesday, June 21st. Finally, Royal Bank Of Canada decreased their target price 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. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $14.89.
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Archrock Partners (NASDAQ:APLP) traded down 1.81% during midday trading on Tuesday, hitting $14.67. 62,425 shares of the stock traded hands. The firm’s market cap is $880.71 million. The company has a 50-day moving average price of $14.88 and a 200-day moving average price of $13.78. Archrock Partners has a 1-year low of $5.36 and a 1-year high of $20.96.
Archrock Partners (NASDAQ:APLP) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ 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 earned $140.05 million during the quarter, compared to analyst estimates of $146.04 million. During the same quarter last year, the firm posted $0.33 EPS. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. Analysts predict that Archrock Partners will post $0.48 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Harvest Fund Advisors LLC raised its position in shares of Archrock Partners by 1.3% in the second quarter. Harvest Fund Advisors LLC now owns 4,653,023 shares of the company’s stock valued at $63,002,000 after buying an additional 59,795 shares during the last quarter. Cohen & Steers Inc. raised its position in shares of Archrock Partners by 79.4% in the second quarter. Cohen & Steers Inc. now owns 284,226 shares of the company’s stock valued at $4,727,000 after buying an additional 125,766 shares during the last quarter. Clinton Group Inc. raised its position in shares of Archrock Partners by 6.3% in the second quarter. Clinton Group Inc. now owns 16,911 shares of the company’s stock valued at $229,000 after buying an additional 1,004 shares during the last quarter. Contrarian Capital Management L.L.C. acquired a new position in shares of Archrock Partners during the second quarter valued at $977,000. Finally, Mariner Wealth Advisors LLC raised its position in shares of Archrock Partners by 2.3% in the second quarter. Mariner Wealth Advisors LLC now owns 20,461 shares of the company’s stock valued at $277,000 after buying an additional 461 shares during the last quarter. 45.11% of the stock is currently owned by hedge funds and other institutional investors.
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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