Archrock Partners (APLP) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. downgraded shares of Archrock Partners (NASDAQ:APLP) from an overweight rating to a neutral rating in a research report report published on Thursday morning. They currently have $16.00 target price on the energy company’s stock.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reiterated a buy rating and issued a $19.00 target price on shares of Archrock Partners in a research report on Wednesday, September 27th. Zacks Investment Research downgraded Archrock Partners from a hold rating to a sell rating in a research note on Monday, October 23rd. Citigroup initiated coverage on Archrock Partners in a research note on Friday, October 13th. They issued a neutral rating and a $15.50 price objective for the company. ValuEngine lowered shares of Archrock Partners from a hold rating to a sell rating in a report on Sunday, December 31st. Finally, BidaskClub upgraded shares of Archrock Partners from a sell rating to a hold rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $16.10.

Shares of Archrock Partners (NASDAQ APLP) traded down $0.35 during trading hours on Thursday, hitting $13.32. 545,700 shares of the stock traded hands, compared to its average volume of 968,267. Archrock Partners has a 52 week low of $10.58 and a 52 week high of $18.55. The firm has a market capitalization of $947.51, a P/E ratio of -51.23, a PEG ratio of 1.06 and a beta of 2.19. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.49.

Archrock Partners (NASDAQ:APLP) last released its quarterly earnings data on Thursday, November 2nd. The energy company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.13). The firm had revenue of $140.19 million for the quarter, compared to analyst estimates of $141.37 million. Archrock Partners had a negative net margin of 3.10% and a positive return on equity of 4.32%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. sell-side analysts expect that Archrock Partners will post 0.28 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Americafirst Capital Management LLC acquired a new position in Archrock Partners during the 2nd quarter worth about $146,000. Franklin Square Holdings L.P. acquired a new stake in shares of Archrock Partners in the third quarter valued at about $214,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Archrock Partners in the third quarter valued at about $218,000. Royal Bank of Canada raised its position 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 last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Archrock Partners during the third quarter worth about $338,000. 46.82% of the stock is owned by institutional investors and hedge funds.

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About Archrock Partners

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.

Analyst Recommendations for Archrock Partners (NASDAQ:APLP)

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