Archrock (NYSE:AROC) Upgraded to “Hold” at Zacks Research

Archrock (NYSE:AROC) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks reports.

AROC has been the topic of a number of other reports. Evercore set a $40.00 target price on shares of Archrock in a research note on Monday, August 17th. Royal Bank Of Canada boosted their price objective on shares of Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, August 17th. JPMorgan Chase & Co. reduced their price target on Archrock from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, October 8th. Wells Fargo & Company lowered their price target on Archrock from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings downgraded Archrock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 28th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.12.

Archrock Trading Up 3.7%

NYSE AROC opened at $27.59 on Thursday. Archrock has a one year low of $22.88 and a one year high of $42.23. The business’s fifty day moving average is $30.64 and its 200-day moving average is $34.09. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.47 and a beta of 0.96.

Archrock (NYSE:AROC) last released its quarterly earnings data on Monday, November 2nd. The energy company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $370.81 million during the quarter, compared to analyst estimates of $385.95 million. Archrock had a return on equity of 22.61% and a net margin of 22.89%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Equities research analysts predict that Archrock will post 1.73 EPS for the current year.

Institutional Investors Weigh In On Archrock

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE bought a new stake in shares of Archrock in the second quarter worth about $262,070,000. BlackRock Inc. acquired a new stake in shares of Archrock during the 2nd quarter valued at about $1,217,511,000. Congress Asset Management Co. boosted its holdings in shares of Archrock by 14.4% in the 3rd quarter. Congress Asset Management Co. now owns 2,532,464 shares of the energy company’s stock valued at $76,708,000 after buying an additional 319,256 shares during the last quarter. Algert Global LLC raised its holdings in Archrock by 85.8% during the 2nd quarter. Algert Global LLC now owns 225,040 shares of the energy company’s stock worth $9,161,000 after purchasing an additional 103,890 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Archrock during the second quarter valued at approximately $17,993,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Company Profile

Archrock, Inc (NYSE: AROC) is a Houston-based energy infrastructure company that provides natural gas compression services in the United States. Compression is used to increase the pressure of natural gas so it can move efficiently through gathering systems, processing facilities, transmission pipelines and other midstream infrastructure.

The company operates a fleet of natural gas compressors and primarily serves customers through contract compression arrangements. Its services support a range of applications, including natural gas gathering, processing, transmission, storage and production.