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. “
APLP has been the topic of several other research reports. Goldman Sachs Group Inc. raised shares of Archrock Partners from a neutral rating to a buy rating and lifted their target price for the company from $9.00 to $14.00 in a report on Tuesday, June 21st. Credit Suisse Group AG set a $17.00 price objective on shares of Archrock Partners and gave the stock a buy rating in a report on Friday, August 5th. Capital One Financial Corp. raised shares of 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. RBC Capital Markets reissued a sector perform rating and set a $14.00 price objective (up previously from $8.00) on shares of Archrock Partners in a report on Friday, August 5th. Finally, Royal Bank Of Canada decreased their price objective on shares of Archrock Partners from $14.00 to $8.00 and set a sector perform rating on the stock in a report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $14.89.
Shares of Archrock Partners (NASDAQ:APLP) opened at 14.94 on Wednesday. The firm’s market cap is $896.92 million. The stock’s 50 day moving average is $14.88 and its 200-day moving average is $13.75. Archrock Partners has a one year low of $5.36 and a one year high of $20.96.
Archrock Partners (NASDAQ:APLP) last issued its 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. The business had revenue of $140.05 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Analysts anticipate that Archrock Partners will post $0.48 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in APLP. Huntington National Bank acquired a new stake in shares of Archrock Partners during the second quarter valued at about $109,000. Clinton Group Inc. raised 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. Mariner Wealth Advisors LLC purchased a new position in Archrock Partners during the first quarter worth $222,000. Chicago Partners Investment Group LLC raised 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. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Archrock Partners during the second quarter worth $339,000. 45.11% of the stock is currently owned by institutional investors.
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.