Archrock Partners LP (APLP) Trading Down 1.1%
Shares of Archrock Partners LP (NASDAQ:APLP) fell 1.1% on Monday . The company traded as low as $13.99 and last traded at $14.11, with a volume of 82,872 shares trading hands. The stock had previously closed at $14.27.
A number of brokerages have weighed in on APLP. JPMorgan Chase & Co. restated a “buy” rating and issued a $17.00 target price on shares of Archrock Partners in a research report on Thursday, May 5th. Zacks Investment Research downgraded shares of Archrock Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, May 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 for the company in a research note on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. raised shares of Archrock Partners from a “neutral” rating to a “buy” rating and raised their price target for the company from $9.00 to $14.00 in a research note on Tuesday, June 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.13.
The stock’s market capitalization is $831.48 million. The firm has a 50-day moving average price of $13.75 and a 200 day moving average price of $11.04.
Archrock Partners (NASDAQ:APLP) last posted its earnings results on Tuesday, May 3rd. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $151.40 million for the quarter, compared to the consensus estimate of $165.34 million. The firm’s revenue was down 7.9% on a year-over-year basis. On average, analysts expect that Archrock Partners LP will post $0.49 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN purchased a new stake in Archrock Partners during the fourth quarter worth $1,184,000. Advisors Asset Management Inc. bought a new position in Archrock Partners during the fourth quarter worth approximately $2,927,000. Atlantic Trust Group LLC bought a new position in Archrock Partners during the fourth quarter worth approximately $4,924,000. Penserra Capital Management LLC bought a new position in Archrock Partners during the fourth quarter worth approximately $5,008,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Archrock Partners during the fourth quarter worth approximately $5,887,000.
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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