Archrock Partners, L.P. (APLP) Stock Rating Reaffirmed by Royal Bank Of Canada

Archrock Partners, L.P. (NASDAQ:APLP)‘s stock had its “buy” rating reiterated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Monday. They currently have a $19.00 price objective on the energy company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 44.27% from the stock’s previous close.

APLP has been the topic of several other reports. Citigroup Inc. started coverage on shares of Archrock Partners, L.P. in a research note on Friday, October 13th. They set a “neutral” rating and a $15.50 price objective on the stock. Zacks Investment Research lowered shares of Archrock Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Finally, BidaskClub lowered shares of Archrock Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.13.

Archrock Partners, L.P. (APLP) traded up 0.30% during midday trading on Monday, reaching $13.18. 63,220 shares of the company’s stock were exchanged. Archrock Partners, L.P. has a 52 week low of $12.43 and a 52 week high of $18.55. The firm has a 50-day moving average price of $13.83 and a 200 day moving average price of $14.57. The company’s market cap is $864.34 million.

Archrock Partners, L.P. (NASDAQ:APLP) last released its quarterly earnings data on Tuesday, August 1st. The energy company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $138.30 million for the quarter, compared to analyst estimates of $137.10 million. Archrock Partners, L.P. had a negative net margin of 2.49% and a positive return on equity of 6.02%. Archrock Partners, L.P.’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. Analysts anticipate that Archrock Partners, L.P. will post $0.47 EPS for the current year.

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Several hedge funds have recently made changes to their positions in APLP. Goldman Sachs Group Inc. boosted its holdings in shares of Archrock Partners, L.P. by 13.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,027,516 shares of the energy company’s stock worth $60,050,000 after buying an additional 466,685 shares during the period. Atlantic Trust Group LLC boosted its holdings in shares of Archrock Partners, L.P. by 20.3% during the 2nd quarter. Atlantic Trust Group LLC now owns 744,798 shares of the energy company’s stock worth $11,105,000 after buying an additional 125,919 shares during the period. Morgan Stanley boosted its holdings in shares of Archrock Partners, L.P. by 6.4% during the 1st quarter. Morgan Stanley now owns 1,944,287 shares of the energy company’s stock worth $33,364,000 after buying an additional 117,163 shares during the period. Cyrus Capital Partners L.P. bought a new stake in shares of Archrock Partners, L.P. during the 2nd quarter worth about $976,000. Finally, Citigroup Inc. boosted its holdings in shares of Archrock Partners, L.P. by 27.0% during the 2nd quarter. Citigroup Inc. now owns 234,246 shares of the energy company’s stock worth $3,493,000 after buying an additional 49,863 shares during the period. 41.14% of the stock is owned by institutional investors and hedge funds.

Archrock Partners, L.P. Company Profile

Archrock Partners, L.P. is engaged in natural gas compression industry in the United States. The Company’s contract operations services include designing, sourcing, owning, installing, operating, servicing, repairing and maintaining equipment to provide natural gas compression services to its customers.

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