Archrock Inc. (AROC) Upgraded to “Buy” at Zacks Investment Research
Archrock Inc. (NYSE:AROC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $15.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 14.68% from the company’s previous close.
According to Zacks, “Archrock, Inc. is a provider of natural gas contract compression services as well as supplier of aftermarket services of compression equipment. The company operates in the oil and gas producing regions primarily in the United States. Archrock, Inc., formerly known as Exterran Holdings, Inc., is based in Houston, United States. “
AROC has been the topic of a number of other research reports. RBC Capital Markets raised Archrock from an “underperform” rating to a “sector perform” rating and boosted their target price for the company from $4.00 to $10.00 in a report on Friday, August 5th. FBR & Co began coverage on Archrock in a report on Thursday, July 14th. They issued a “market perform” rating and a $11.00 target price on the stock. Piper Jaffray Cos. began coverage on Archrock in a report on Monday, August 22nd. They issued a “neutral” rating on the stock. Scotiabank lowered Archrock from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $9.00 to $10.00 in a report on Wednesday, June 22nd. Finally, Raymond James Financial Inc. raised Archrock to an “outperform” rating in a report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.64.
Archrock (NYSE:AROC) traded down 0.38% on Monday, reaching $13.03. The company had a trading volume of 439,184 shares. Archrock has a 52-week low of $3.41 and a 52-week high of $24.17. The company’s market capitalization is $892.23 million. The company’s 50-day moving average is $11.61 and its 200-day moving average is $9.12.
A number of hedge funds have recently bought and sold shares of AROC. Stifel Financial Corp purchased a new stake in Archrock during the second quarter worth approximately $108,000. Acrospire Investment Management LLC purchased a new stake in Archrock during the first quarter worth approximately $109,000. Huntington Asset Advisors Inc. purchased a new stake in Archrock during the first quarter worth approximately $120,000. Mason Street Advisors LLC purchased a new stake in Archrock during the second quarter worth approximately $128,000. Finally, Legal & General Group Plc increased its stake in Archrock by 22.7% in the second quarter. Legal & General Group Plc now owns 14,762 shares of the company’s stock worth $136,000 after buying an additional 2,733 shares during the last quarter. Institutional investors own 88.18% of the company’s stock.
Archrock Company Profile
Archrock, Inc, formerly Exterran Holdings, Inc, is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
Receive News & Stock Ratings for Archrock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archrock Inc. and related stocks with our FREE daily email newsletter.