Archrock Partners (APLP) Downgraded by JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered shares of Archrock Partners (NASDAQ:APLP) from an overweight rating to a neutral rating in a report released on Thursday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $16.00 target price on the energy company’s stock.
A number of other brokerages have also recently issued reports on APLP. Zacks Investment Research raised shares of Archrock Partners from a hold rating to a buy rating and set a $16.00 price objective on the stock in a research note on Tuesday, October 3rd. Royal Bank of Canada reaffirmed a buy rating and issued a $19.00 price objective on shares of Archrock Partners in a research note on Wednesday, September 27th. Citigroup began coverage on shares of Archrock Partners in a research note on Friday, October 13th. They issued a neutral rating and a $15.50 price objective on the stock. BidaskClub raised shares of Archrock Partners from a sell rating to a hold rating in a research note on Wednesday. Finally, ValuEngine cut shares of Archrock Partners from a hold rating to a sell rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The company presently has an average rating of Hold and an average target price of $16.10.
Shares of Archrock Partners (NASDAQ APLP) traded up $0.18 during mid-day trading on Thursday, reaching $13.50. 262,043 shares of the company’s stock were exchanged, compared to its average volume of 299,848. Archrock Partners has a 1 year low of $10.58 and a 1 year high of $18.40. The company has a market capitalization of $949.00, a PE ratio of 40.91, a PEG ratio of 1.05 and a beta of 2.20. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.49.
Archrock Partners (NASDAQ:APLP) last announced its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.13). Archrock Partners had a negative net margin of 3.10% and a positive return on equity of 4.32%. The business had revenue of $140.19 million during the quarter, compared to the consensus estimate of $141.37 million. During the same period in the previous year, the business posted $0.15 earnings per share. Archrock Partners’s revenue was up 3.5% compared to the same quarter last year. analysts forecast that Archrock Partners will post 0.27 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new position in shares of Archrock Partners during the second quarter worth $146,000. Franklin Square Holdings L.P. acquired a new stake in shares of Archrock Partners during the third quarter worth $214,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Archrock Partners during the third quarter worth $218,000. Royal Bank of Canada raised its holdings in shares of Archrock Partners by 2.7% during the second quarter. Royal Bank of Canada now owns 18,242 shares of the energy company’s stock worth $272,000 after acquiring an additional 486 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Archrock Partners during the third quarter worth $338,000. 46.82% of the stock is currently owned by institutional investors.
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Archrock Partners 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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