Royal Bank Of Canada Forecasts Strong Price Appreciation for Archrock (NYSE:AROC) Stock

Archrock (NYSE:AROC) had its price target lifted by equities research analysts at Royal Bank Of Canada from $32.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 15.54% from the company’s previous close.

A number of other equities analysts also recently commented on AROC. Citigroup upped their price objective on shares of Archrock from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Dawson James reiterated an “outperform” rating on shares of Archrock in a research note on Wednesday, February 25th. Raymond James Financial reissued an “outperform” rating and set a $40.00 price target on shares of Archrock in a report on Wednesday, February 25th. Stifel Nicolaus lifted their price objective on Archrock from $31.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Archrock presently has a consensus rating of “Buy” and a consensus target price of $38.14.

Archrock Stock Down 1.3%

AROC opened at $34.62 on Monday. Archrock has a 52 week low of $20.12 and a 52 week high of $37.26. The business has a 50 day moving average price of $31.00 and a two-hundred day moving average price of $27.06. The company has a quick ratio of 0.99, a current ratio of 1.54 and a debt-to-equity ratio of 1.62. The company has a market cap of $6.06 billion, a PE ratio of 18.92, a P/E/G ratio of 1.44 and a beta of 0.87.

Archrock (NYSE:AROC) last announced its earnings results on Tuesday, February 24th. The energy company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.29. The company had revenue of $377.07 million for the quarter, compared to the consensus estimate of $378.04 million. Archrock had a return on equity of 23.57% and a net margin of 21.63%.The company’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. As a group, research analysts anticipate that Archrock will post 1.09 EPS for the current year.

Insiders Place Their Bets

In other Archrock news, CAO Donna A. Henderson sold 10,413 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $36.74, for a total value of $382,573.62. Following the sale, the chief accounting officer owned 27,757 shares of the company’s stock, valued at approximately $1,019,792.18. This represents a 27.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Archrock

A number of large investors have recently added to or reduced their stakes in AROC. Sound Income Strategies LLC increased its holdings in Archrock by 71.0% during the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after acquiring an additional 403 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of Archrock during the 3rd quarter worth approximately $27,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Archrock during the 4th quarter worth approximately $27,000. Wilmington Savings Fund Society FSB lifted its stake in Archrock by 164.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock valued at $28,000 after buying an additional 673 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Archrock during the 4th quarter valued at $33,000. 95.45% of the stock is owned by institutional investors and hedge funds.

About Archrock

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.