Archrock Partners LP (NASDAQ:APLP) Given Average Recommendation of “Buy” by Analysts
Shares of Archrock Partners LP (NASDAQ:APLP) have earned an average recommendation of “Buy” from the ten ratings firms that are currently covering the stock. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.89.
APLP has been the topic of several research analyst reports. Royal Bank Of Canada dropped their price objective on Archrock Partners from $14.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Friday, August 5th. Zacks Investment Research raised Archrock Partners from a “sell” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Tuesday, August 9th. Goldman Sachs Group Inc. raised Archrock Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $14.00 in a research note on Tuesday, June 21st. Capital One Financial Corp. raised Archrock Partners from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research note on Tuesday, June 21st. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $14.00 price target (up previously from $8.00) on shares of Archrock Partners in a research note on Friday, August 5th.
Institutional investors have recently made changes to their positions in the stock. Huntington National Bank bought a new position in shares of Archrock Partners during the second quarter valued at $109,000. HITE Hedge Asset Management LLC boosted its position in 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 during the last quarter. Royal Bank of Canada boosted 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 during the last quarter. Babson Capital Management LLC boosted its position in 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 during the last quarter. Finally, Barclays PLC boosted its position in 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 during the last quarter. Institutional investors own 45.11% of the company’s stock.
Archrock Partners (NASDAQ:APLP) traded up 3.19% during mid-day trading on Monday, hitting $16.15. The stock had a trading volume of 69,134 shares. Archrock Partners has a 52 week low of $5.36 and a 52 week high of $20.96. The stock’s 50-day moving average is $14.75 and its 200 day moving average is $13.52. The company’s market capitalization is $969.57 million.
Archrock Partners (NASDAQ:APLP) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The business had revenue of $140.05 million for the quarter, compared to the consensus estimate of $146.04 million. Archrock Partners had a positive return on equity of 10.41% and a negative net margin of 19.90%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. Equities analysts forecast that Archrock Partners will post $0.48 earnings per share for the current fiscal year.
About Archrock Partners
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.
Receive News & Stock Ratings for Archrock Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archrock Partners LP and related stocks with our FREE daily email newsletter.