Trade Report: The Analysts Set Archrock Partners LP (APLP) PT at $14.89

The Analysts Set Archrock Partners LP (APLP) PT at $14.89

Shares of Archrock Partners LP (NASDAQ:APLP) have received an average rating of “Hold” from the ten analysts that are presently covering the firm. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $14.63.

Several research analysts have recently weighed in on the stock. Credit Suisse Group AG set a $17.00 price target on shares of Archrock Partners and gave the stock a “buy” rating in a report on Friday, August 5th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $14.00 price target (up previously from $8.00) on shares of Archrock Partners in a report on Friday, August 5th. Zacks Investment Research raised shares of Archrock Partners from a “sell” rating to a “hold” rating in a report on Monday, July 4th. Capital One Financial Corp. raised shares of Archrock Partners from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. raised shares of Archrock Partners from a “neutral” rating to a “buy” rating and upped their price target for the stock from $9.00 to $14.00 in a report on Tuesday, June 21st.

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised 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 valued at $409,000 after buying an additional 270 shares during the last quarter. Mariner Wealth Advisors LLC raised its stake in 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. Chicago Partners Investment Group LLC raised its stake 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 valued at $294,000 after buying an additional 464 shares during the last quarter. Clinton Group Inc. raised its stake in 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. Finally, State Street Corp raised its stake in Archrock Partners by 3.9% in the first quarter. State Street Corp now owns 31,089 shares of the company’s stock valued at $344,000 after buying an additional 1,164 shares during the last quarter. Institutional investors and hedge funds own 45.11% of the company’s stock.

Shares of Archrock Partners (NASDAQ:APLP) opened at 15.48 on Monday. Archrock Partners has a 12-month low of $5.36 and a 12-month high of $20.96. The firm’s market cap is $929.34 million. The company’s 50 day moving average price is $14.83 and its 200 day moving average price is $13.63.

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, topping the consensus estimate of $0.13 by $0.08. The firm had revenue of $140.05 million for the quarter, compared to analysts’ expectations of $146.04 million. Archrock Partners had a negative net margin of 19.90% and a positive return on equity of 10.41%. The business’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Equities research analysts forecast that Archrock Partners will post $0.48 EPS for the current year.

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