Archrock Partners LP (APLP) Upgraded to “Strong-Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Archrock Partners LP (NASDAQ:APLP) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning. The firm currently has $17.00 price objective on the stock.
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 analysts have also weighed in on APLP. Royal Bank Of Canada lowered their price target on shares of Archrock Partners from $14.00 to $8.00 and set a sector perform rating on the stock in a research report on Friday, August 5th. Goldman Sachs Group Inc. raised shares of Archrock Partners from a neutral rating to a buy rating and lifted their target price for the stock from $9.00 to $14.00 in a research note 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 target price on the stock in a research note on Tuesday, June 21st. RBC Capital Markets reaffirmed a sector perform rating and set a $14.00 target price (up from $8.00) on shares of Archrock Partners in a research note on Friday, August 5th. 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 research note on Friday, August 5th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Archrock Partners currently has a consensus rating of Buy and an average price target of $14.89.
Archrock Partners (NASDAQ:APLP) opened at 14.67 on Tuesday. The firm has a 50-day moving average of $14.88 and a 200-day moving average of $13.78. Archrock Partners has a 52 week low of $5.36 and a 52 week high of $20.96. The company’s market capitalization is $880.71 million.
Archrock Partners (NASDAQ:APLP) last announced its earnings results on Thursday, August 4th. The company reported $0.21 earnings per share (EPS) 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 business had revenue of $140.05 million for the quarter, compared to analyst estimates of $146.04 million. During the same quarter last year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. Analysts anticipate that Archrock Partners will post $0.48 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Arrow Investment Advisors LLC increased its stake in Archrock Partners by 20.8% in the second quarter. Arrow Investment Advisors LLC now owns 60,368 shares of the company’s stock worth $817,000 after buying an additional 10,400 shares during the period. Huntington National Bank bought a new stake in Archrock Partners during the second quarter worth about $109,000. HITE Hedge Asset Management LLC increased its stake 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 period. Royal Bank of Canada increased its stake 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 period. Finally, Babson Capital Management LLC increased its stake 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 period. 45.11% of the stock is currently owned by institutional investors and hedge funds.
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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