Archrock Partners, L.P. (APLP) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Archrock Partners, L.P. (NASDAQ:APLP) from a buy rating to a hold rating in a research report released on Tuesday morning.

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. “

A number of other analysts also recently weighed in on the stock. Capital One Financial Corporation downgraded shares of Archrock Partners, L.P. from an overweight rating to an equal weight rating in a research report on Friday, June 23rd. Royal Bank Of Canada upgraded shares of Archrock Partners, L.P. from a sector perform rating to an outperform rating and upped their price target for the stock from $18.00 to $19.00 in a research note on Wednesday, August 23rd. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Archrock Partners, L.P. from a hold rating to a sell rating in a research note on Tuesday, July 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $17.13.

Archrock Partners, L.P. (APLP) traded down 2.28% on Tuesday, hitting $13.72. 32,884 shares of the company’s stock were exchanged. The stock’s market cap is $899.76 million. 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 $13.88 and a 200-day moving average price of $14.89.

Archrock Partners, L.P. (NASDAQ:APLP) last released its earnings results on Tuesday, August 1st. The energy company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. The firm had revenue of $138.30 million for the quarter, compared to the consensus estimate 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%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. Analysts predict that Archrock Partners, L.P. will post $0.47 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in APLP. Americafirst Capital Management LLC bought a new position in Archrock Partners, L.P. in the 2nd quarter worth about $146,000. Clinton Group Inc. boosted its stake in Archrock Partners, L.P. by 5.5% in the 1st quarter. Clinton Group Inc. now owns 12,925 shares of the energy company’s stock worth $222,000 after purchasing an additional 674 shares in the last quarter. Global X Management Co. LLC boosted its stake in Archrock Partners, L.P. by 3.7% in the 1st quarter. Global X Management Co. LLC now owns 13,454 shares of the energy company’s stock worth $231,000 after purchasing an additional 484 shares in the last quarter. Royal Bank of Canada boosted its stake in Archrock Partners, L.P. by 2.7% in the 2nd quarter. Royal Bank of Canada now owns 18,242 shares of the energy company’s stock worth $272,000 after purchasing an additional 486 shares in the last quarter. Finally, Texas Yale Capital Corp. boosted its stake in Archrock Partners, L.P. by 52.9% in the 2nd quarter. Texas Yale Capital Corp. now owns 18,565 shares of the energy company’s stock worth $277,000 after purchasing an additional 6,425 shares in the last quarter. Institutional investors own 41.17% of the company’s stock.

About Archrock Partners, L.P.

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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