Archrock Partners LP (APLP) Shares Up 5.3%
Archrock Partners LP (NASDAQ:APLP) shares shot up 5.3% during trading on Friday . The company traded as high as $14.19 and last traded at $14.19, with a volume of 106,859 shares traded. The stock had previously closed at $13.47.
A number of brokerages recently commented on APLP. JPMorgan Chase & Co. restated a “buy” rating and issued a $17.00 price target on shares of Archrock Partners in a research report on Thursday, May 5th. Zacks Investment Research cut Archrock Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Capital One Financial Corp. upgraded Archrock Partners from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Tuesday, June 21st. Finally, Goldman Sachs Group Inc. upgraded Archrock Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $14.00 in a research report on Tuesday, June 21st. Four research 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 an average price target of $17.13.
The firm’s market cap is $851.90 million. The stock’s 50-day moving average price is $13.56 and its 200-day moving average price is $11.27.
Archrock Partners (NASDAQ:APLP) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $151.40 million for the quarter, compared to analysts’ expectations of $165.34 million. The firm’s revenue was down 7.9% on a year-over-year basis. On average, equities analysts forecast that Archrock Partners LP will post $0.51 EPS for the current year.
Other hedge funds and institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new position in shares of Archrock Partners during the fourth quarter worth approximately $2,927,000. Atlantic Trust Group LLC purchased a new position in shares of Archrock Partners during the fourth quarter worth approximately $4,924,000. First Trust Advisors LP purchased a new position in shares of Archrock Partners during the fourth quarter worth approximately $6,791,000. Kayne Anderson Capital Advisors LP purchased a new position in shares of Archrock Partners during the fourth quarter worth approximately $10,161,000. Finally, Morgan Stanley purchased a new position in shares of Archrock Partners during the fourth quarter worth approximately $14,622,000.
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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