Archrock, Inc. (AROC) Lowered to Sell at ValuEngine
ValuEngine lowered shares of Archrock, Inc. (NYSE:AROC) from a hold rating to a sell rating in a report released on Saturday.
Several other equities analysts have also commented on AROC. Scotiabank set a $16.00 price target on shares of Archrock and gave the stock a hold rating in a research report on Saturday, May 6th. FBR & Co restated a market perform rating and set a $12.00 price target (up previously from $11.00) on shares of Archrock in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Archrock from a hold rating to a sell rating in a research report on Monday, August 7th. J P Morgan Chase & Co restated a neutral rating and set a $12.00 price target (down previously from $13.00) on shares of Archrock in a research report on Tuesday, August 8th. Finally, BidaskClub lowered shares of Archrock from a buy rating to a hold rating in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Archrock presently has an average rating of Hold and an average price target of $13.29.
Shares of Archrock (AROC) traded down 3.11% on Friday, reaching $9.35. 826,867 shares of the company’s stock traded hands. The stock’s market capitalization is $663.28 million. The company has a 50 day moving average of $10.96 and a 200-day moving average of $12.17. Archrock has a 52 week low of $9.10 and a 52 week high of $16.40.
Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, August 1st. The energy company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.08. The business had revenue of $198 million during the quarter, compared to analyst estimates of $196 million. Archrock had a negative net margin of 8.57% and a negative return on equity of 3.44%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Archrock will post ($0.20) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 8th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.48 dividend on an annualized basis and a yield of 5.13%.
A number of institutional investors have recently made changes to their positions in AROC. Bank of New York Mellon Corp raised its position in shares of Archrock by 50.3% in the first quarter. Bank of New York Mellon Corp now owns 1,978,588 shares of the energy company’s stock worth $24,535,000 after buying an additional 662,512 shares in the last quarter. American Century Companies Inc. raised its position in shares of Archrock by 0.5% in the first quarter. American Century Companies Inc. now owns 511,643 shares of the energy company’s stock worth $6,344,000 after buying an additional 2,307 shares in the last quarter. Algert Global LLC bought a new position in shares of Archrock during the first quarter worth about $1,465,000. State Board of Administration of Florida Retirement System raised its position in shares of Archrock by 48.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 79,063 shares of the energy company’s stock worth $980,000 after buying an additional 25,981 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Archrock by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 95,994 shares of the energy company’s stock worth $1,185,000 after buying an additional 5,302 shares in the last quarter. Hedge funds and other institutional investors own 88.53% of the company’s stock.
Archrock Company Profile
Archrock, 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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