Archrock Inc. (AROC) Downgraded to Hold at Zacks Investment Research
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. “
A number of other research firms have also issued reports on AROC. Simmons assumed coverage on Archrock in a report on Monday, August 22nd. They set a neutral rating and a $12.25 target price on the stock. Piper Jaffray Cos. assumed coverage on Archrock in a report on Monday, August 22nd. They set a neutral rating on the stock. FBR & Co assumed coverage on Archrock in a report on Thursday, July 14th. They set a market perform rating and a $11.00 target price on the stock. RBC Capital Markets raised Archrock from an underperform rating to a sector perform rating and lifted their target price for the stock from $4.00 to $10.00 in a report on Friday, August 5th. Finally, Johnson Rice raised Archrock from a hold rating to an accumulate rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Archrock presently has an average rating of Hold and a consensus price target of $11.64.
Archrock (NYSE:AROC) traded up 3.23% on Wednesday, hitting $13.11. 478,271 shares of the stock were exchanged. The company’s market cap is $897.71 million. The company’s 50-day moving average is $11.69 and its 200-day moving average is $9.24. Archrock has a 52 week low of $3.41 and a 52 week high of $24.17.
Several large investors have recently bought and sold shares of AROC. Stifel Financial Corp purchased a new stake in Archrock during the second quarter worth $108,000. Acrospire Investment Management LLC purchased a new stake in Archrock during the first quarter worth $109,000. Huntington Asset Advisors Inc. purchased a new stake in Archrock during the first quarter worth $120,000. Mason Street Advisors LLC purchased a new stake in Archrock during the second quarter worth $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 period. 88.18% of the stock is owned by institutional investors.
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.
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