Archrock Partners LP (APLP) Stock Price Down 2.4%
Archrock Partners LP (NASDAQ:APLP) fell 2.4% during trading on Tuesday . The stock traded as low as $13.21 and last traded at $13.36, with a volume of 68,944 shares traded. The stock had previously closed at $13.69.
Several research firms have commented on APLP. Goldman Sachs Group Inc. upgraded Archrock Partners from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $9.00 to $14.00 in a research report on Tuesday, June 21st. Zacks Investment Research lowered 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 objective on the stock in a research report on Tuesday, June 21st. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $17.00 price objective on shares of Archrock Partners in a research report on Thursday, May 5th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $17.13.
The stock’s 50-day moving average price is $13.56 and its 200 day moving average price is $11.21. The firm’s market cap is $801.47 million.
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 consensus estimate of $0.17 by $0.01. The business had revenue of $151.40 million for the quarter, compared to analysts’ expectations of $165.34 million. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. Equities research analysts expect that Archrock Partners LP will post $0.51 earnings per share for the current fiscal year.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in APLP. Advisors Asset Management Inc. purchased a new position in Archrock Partners during the fourth quarter valued at approximately $2,927,000. Atlantic Trust Group LLC purchased a new position in Archrock Partners during the fourth quarter valued at approximately $4,924,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Archrock Partners during the fourth quarter valued at approximately $5,887,000. First Trust Advisors LP purchased a new position in Archrock Partners during the fourth quarter valued at approximately $6,791,000. Finally, Kayne Anderson Capital Advisors LP purchased a new position in Archrock Partners during the fourth quarter valued at approximately $10,161,000.
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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