Archrock, Inc. (AROC) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Archrock, Inc. (NYSE:AROC) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.46.
A number of equities analysts recently weighed in on AROC shares. Capital One Financial Corporation lowered shares of Archrock from an “overweight” rating to an “equal weight” rating in a research report on Friday, June 23rd. Zacks Investment Research raised shares of Archrock from a “sell” rating to a “hold” rating in a research note on Monday, September 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $13.00 target price on shares of Archrock in a research note on Wednesday, September 27th. BidaskClub raised shares of Archrock from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Scotiabank set a $15.00 target price on shares of Archrock and gave the company a “hold” rating in a research note on Tuesday, June 20th.
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Archrock (AROC) traded up 0.79% on Friday, reaching $12.80. 304,146 shares of the company traded hands. The stock’s market capitalization is $902.89 million. The stock’s 50-day moving average is $11.15 and its 200-day moving average is $11.28. Archrock has a 1-year low of $8.30 and a 1-year high of $16.40.
Archrock (NYSE:AROC) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.08. The business had revenue of $198.00 million during the quarter, compared to analyst estimates of $196.00 million. Archrock had a negative net margin of 8.57% and a negative return on equity of 3.44%. Archrock’s revenue was up 4.2% on a year-over-year basis. Equities research analysts expect that Archrock will post ($0.20) EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Archrock by 51,362.3% in the 1st quarter. BlackRock Inc. now owns 9,155,144 shares of the energy company’s stock worth $113,523,000 after buying an additional 9,137,354 shares during the period. Vanguard Group Inc. increased its stake in Archrock by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 8,047,378 shares of the energy company’s stock worth $99,787,000 after buying an additional 868,015 shares during the period. Dimensional Fund Advisors LP increased its stake in Archrock by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,147 shares of the energy company’s stock worth $66,328,000 after buying an additional 537,271 shares during the period. JPMorgan Chase & Co. increased its stake in Archrock by 98.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,970,711 shares of the energy company’s stock worth $33,865,000 after buying an additional 1,472,445 shares during the period. Finally, State Street Corp increased its stake in Archrock by 3.9% in the 1st quarter. State Street Corp now owns 2,243,750 shares of the energy company’s stock worth $27,824,000 after buying an additional 83,282 shares during the period. 91.86% of the stock is currently owned by institutional investors.
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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