Approach Resources, Inc. (NASDAQ:AREX) Target Price Means Stock Is Worth $3.46

Approach Resources, Inc. (NASDAQ:AREX) registered a -5.18% decrease, still its new closing price is 418.33% up from the company’s 1 year high of 4.35.It posted 3.67% gains in previous 5 sessions and is now the subject of 6 analysts who together assign a hold rating on stock. 1 of Wall Street analysts have an underperform rating; the 0 sells versus 1 buy or better ratings. The 11 stock analysts following this company have an average price target at $3.46, with individual PT in the $1.50-$5.50 range. The shares moved at $3.11, implying that brokerage firms see shares gaining about 141.09% in twelve months time.

Approach Resources, Inc. (AREX) SEC Form 4 News

The stock is getting much attention these days as insiders are adding shares while they posted a -7.16% fall year to date. A Director at Approach Resources, Inc. (AREX) acquired shares in a transaction closed on Thursday November 13, 2014. Gregg Vean J. III bought 10,000 shares in the company at $11.88 each and collected $118,001 in proceeds. Gregg Vean J. III now owns 16,897 shares in the company after this transaction. A Director in the company, LUBAR SHELDON B, disclosed a transaction on Monday November 10, 2014 that ended up paying $106,000 from the purchase of 10,000 shares at $10.61 per share.

Approach Resources, Inc. (NASDAQ:AREX) Upcoming Results on Tap

Approach Resources, Inc. will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $-0.07 in that period. Sales during the quarter are predicted to arrive at $26.72 million.

Earnings surprise history: Last quarter, the company posted approximately $23.75 million in revenue and EPS of $-0.23. The mean forecast was for $24.58 million and $-0.25 a share, respectively. One quarter earlier, revenue for the stock was at $22.43 million, with earnings at $-0.25/share.

Approach Resources, Inc. (AREX) Brokerage Update

Approach Resources, Inc. (AREX) is in SunTrust’s research list so their analyst rating change is noteworthy. These shares were upgraded to Hold from Reduce by SunTrust, according to news reported on Wednesday October 26, 2016.Another important research note was issued by Wunderlich on Wednesday October 26, 2016.The firm upgraded AREX to Buy from Hold. Over the last six months and over the last three months, the shares of Approach Resources, Inc. (AREX), have changed 87.35% and 3.32%, respectively.