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 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. “
APLP has been the subject of several other research reports. Goldman Sachs Group Inc. upgraded 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. Credit Suisse Group AG set a $17.00 price objective on Archrock Partners and gave the stock a “buy” rating in a research note 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 for the company in a research note on Tuesday, June 21st. RBC Capital Markets reiterated a “sector perform” rating and set a $14.00 price objective (up from $8.00) on shares of Archrock Partners in a research note on Friday, August 5th. Finally, Royal Bank Of Canada cut their price objective on Archrock Partners from $14.00 to $8.00 and set a “sector perform” rating for the company in a research note on Friday, August 5th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.89.
Archrock Partners (NASDAQ:APLP) traded down 1.40% during mid-day trading on Wednesday, hitting $15.48. The company had a trading volume of 133,248 shares. The firm’s market capitalization is $929.34 million. The company has a 50-day moving average price of $14.81 and a 200 day moving average price of $13.62. Archrock Partners has a 12 month low of $5.36 and a 12 month high of $20.96.
Archrock Partners (NASDAQ:APLP) last announced its quarterly earnings results 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 positive return on equity of 10.41% and a negative net margin of 19.90%. The firm earned $140.05 million during the quarter, compared to analyst estimates of $146.04 million. During the same quarter in the previous year, the business earned $0.33 EPS. Archrock Partners’s revenue for the quarter was down 16.5% compared to the same quarter last year. Equities analysts forecast that Archrock Partners will post $0.48 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of APLP. Huntington National Bank bought a new position in shares of Archrock Partners during the second quarter valued at $109,000. Mariner Wealth Advisors LLC acquired a new position in Archrock Partners during the first quarter worth approximately $222,000. Clinton Group Inc. boosted its position in Archrock Partners by 6.3% in the second quarter. Clinton Group Inc. now owns 16,911 shares of the company’s stock worth $229,000 after buying an additional 1,004 shares in the last quarter. Geode Capital Management LLC boosted its position in Archrock Partners by 14.5% in the first quarter. Geode Capital Management LLC now owns 25,239 shares of the company’s stock worth $279,000 after buying an additional 3,187 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its position in Archrock Partners by 2.2% in the second quarter. Chicago Partners Investment Group LLC now owns 21,693 shares of the company’s stock worth $294,000 after buying an additional 464 shares in the last quarter. Institutional investors and hedge funds 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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