Archrock (NYSE:AROC) Downgraded by Zacks Research to Hold

Archrock (NYSE:AROC) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

AROC has been the subject of several other research reports. Wells Fargo & Company upped their target price on Archrock from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Dawson James reaffirmed an “outperform” rating on shares of Archrock in a research report on Wednesday, February 25th. Royal Bank Of Canada upped their target price on Archrock from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded Archrock from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Archrock currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Archrock Price Performance

AROC stock opened at $36.29 on Thursday. The stock has a 50-day moving average price of $35.00 and a two-hundred day moving average price of $28.91. Archrock has a 12-month low of $21.17 and a 12-month high of $37.72. The company has a current ratio of 1.54, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. The company has a market cap of $6.36 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Wednesday, February 25th. The energy company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.29. Archrock had a return on equity of 23.57% and a net margin of 21.63%.The firm had revenue of $377.07 million during the quarter, compared to the consensus estimate of $378.04 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts predict that Archrock will post 1.09 EPS for the current year.

Insider Activity at Archrock

In other Archrock news, CFO Doug S. Aron sold 98,050 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $34.76, for a total transaction of $3,408,218.00. Following the sale, the chief financial officer owned 484,337 shares in the company, valued at $16,835,554.12. This represents a 16.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Donna A. Henderson sold 10,413 shares of the stock in a transaction that occurred 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 in the company, valued at $1,019,792.18. The trade was a 27.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 179,963 shares of company stock worth $6,336,907 in the last 90 days. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Archrock

Several hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Archrock by 5.5% during the fourth quarter. Invesco Ltd. now owns 8,719,020 shares of the energy company’s stock worth $226,869,000 after acquiring an additional 457,569 shares in the last quarter. State Street Corp raised its holdings in Archrock by 2.2% during the fourth quarter. State Street Corp now owns 7,018,889 shares of the energy company’s stock valued at $182,631,000 after buying an additional 152,312 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Archrock by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,833,290 shares of the energy company’s stock valued at $177,805,000 after buying an additional 111,218 shares in the last quarter. American Century Companies Inc. grew its position in shares of Archrock by 3.3% in the third quarter. American Century Companies Inc. now owns 6,077,999 shares of the energy company’s stock valued at $159,912,000 after purchasing an additional 191,914 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Archrock by 3.5% in the third quarter. Sei Investments Co. now owns 5,499,093 shares of the energy company’s stock valued at $144,681,000 after purchasing an additional 187,252 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Archrock Company Profile

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.