Archrock Partners LP (APLP) Upgraded by Zacks Investment Research to “Strong-Buy”
Archrock Partners LP (NASDAQ:APLP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The firm presently has a $17.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 15.88% from the stock’s previous close.
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. “
Several other research firms also recently commented on APLP. Royal Bank Of Canada lowered their target price on shares of Archrock Partners from $14.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Friday, August 5th. RBC Capital Markets reissued a “sector perform” rating and set a $14.00 target price (up from $8.00) on shares of Archrock Partners in a research 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 target price on the stock in a research report on Tuesday, June 21st. Credit Suisse Group AG set a $17.00 target price on shares of Archrock Partners and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Goldman Sachs Group Inc. raised shares of Archrock Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $14.00 in a research report on Tuesday, June 21st. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Archrock Partners currently has a consensus rating of “Buy” and a consensus price target of $14.89.
Shares of Archrock Partners (NASDAQ:APLP) traded down 1.81% during mid-day trading on Tuesday, reaching $14.67. The company’s stock had a trading volume of 62,425 shares. Archrock Partners has a 12 month low of $5.36 and a 12 month high of $20.96. The company has a 50 day moving average price of $14.88 and a 200 day moving average price of $13.78. The stock’s market capitalization is $880.71 million.
Archrock Partners (NASDAQ:APLP) last posted its earnings results on Thursday, August 4th. The company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The firm 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. On average, equities research analysts anticipate that Archrock Partners will post $0.48 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. UBS Group AG boosted its stake in Archrock Partners by 53.0% in the first quarter. UBS Group AG now owns 2,333,043 shares of the company’s stock valued at $25,850,000 after buying an additional 808,575 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Archrock Partners by 6,484.6% in the second quarter. JPMorgan Chase & Co. now owns 605,784 shares of the company’s stock valued at $8,202,000 after buying an additional 596,584 shares during the last quarter. HITE Hedge Asset Management LLC boosted its stake in Archrock Partners by 55.0% in the second quarter. HITE Hedge Asset Management LLC now owns 976,531 shares of the company’s stock valued at $13,222,000 after buying an additional 346,651 shares during the last quarter. Brookfield Asset Management Inc. bought a new stake in Archrock Partners during the second quarter valued at $3,993,000. Finally, Harvest Fund Advisors LLC boosted its stake in Archrock Partners by 5.8% in the first quarter. Harvest Fund Advisors LLC now owns 4,593,228 shares of the company’s stock valued at $50,893,000 after buying an additional 253,181 shares during the last quarter. Institutional investors and hedge funds own 45.11% of the company’s stock.
About Archrock Partners
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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