Zacks Investment Research downgraded shares of Archrock Partners LP (NASDAQ:APLP) from a strong-buy rating to a hold rating in a report published on Wednesday morning.

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 firms also recently commented on APLP. Royal Bank Of Canada decreased their price objective on Archrock Partners from $14.00 to $8.00 and set a sector perform rating on the stock in a report on Friday, August 5th. RBC Capital Markets reiterated a sector perform rating and issued a $14.00 price objective (up previously from $8.00) on shares of Archrock Partners in a report on Friday, August 5th. Capital One Financial Corp. upgraded Archrock Partners from an equal weight rating to an overweight rating and set a $15.00 price objective on the stock in a report on Tuesday, June 21st. Credit Suisse Group AG set a $17.00 price objective on Archrock Partners and gave the stock a buy rating in a report on Friday, August 5th. Finally, Goldman Sachs Group Inc. upgraded Archrock Partners from a neutral rating to a buy rating and lifted their price objective for the stock from $9.00 to $14.00 in a report on Tuesday, June 21st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $14.89.

Analyst Recommendations for Archrock Partners (NASDAQ:APLP)

Archrock Partners (NASDAQ:APLP) traded down 2.58% during midday trading on Wednesday, hitting $15.08. The company’s stock had a trading volume of 6,986 shares. The stock has a 50 day moving average of $14.83 and a 200 day moving average of $13.63. The company’s market cap is $905.33 million. Archrock Partners has a 52-week low of $5.36 and a 52-week high of $20.96.

Archrock Partners (NASDAQ:APLP) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.08. Archrock Partners had a positive return on equity of 10.41% and a negative net margin of 19.90%. The business had revenue of $140.05 million for the quarter, compared to the consensus estimate of $146.04 million. During the same quarter last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, equities analysts expect that Archrock Partners will post $0.48 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in APLP. Huntington National Bank purchased a new position in shares of Archrock Partners during the second quarter valued at about $109,000. Mariner Wealth Advisors LLC purchased a new position in shares of Archrock Partners during the first quarter valued at about $222,000. Clinton Group Inc. increased 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 period. Geode Capital Management LLC increased its position in shares of Archrock Partners by 14.5% in the first quarter. Geode Capital Management LLC now owns 25,239 shares of the company’s stock valued at $279,000 after buying an additional 3,187 shares during the period. Finally, Chicago Partners Investment Group LLC increased its position in shares of Archrock Partners by 2.2% in the second quarter. Chicago Partners Investment Group LLC now owns 21,693 shares of the company’s stock valued at $294,000 after buying an additional 464 shares during the period. 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.

5 Day Chart for NASDAQ:APLP

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