Archrock, Inc. (NYSE:AROC) Given Average Rating of “Buy” by Analysts

Archrock, Inc. (NYSE:AROC) has earned a consensus rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $40.8571.

AROC has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Archrock from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Zacks Research cut Archrock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Weiss Ratings raised Archrock from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. Citigroup upped their price target on Archrock from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Mizuho upped their price target on Archrock from $32.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, April 2nd.

Insider Transactions at Archrock

In other news, SVP Jason Ingersoll sold 33,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.19, for a total value of $1,260,270.00. Following the sale, the senior vice president directly owned 277,454 shares of the company’s stock, valued at approximately $10,595,968.26. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Donna A. Henderson sold 10,413 shares of the 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 completion of the sale, the chief accounting officer directly owned 27,757 shares in the company, valued at approximately $1,019,792.18. This represents a 27.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 337,963 shares of company stock valued at $12,244,277. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Archrock

A number of institutional investors have recently modified their holdings of AROC. Royal Bank of Canada grew its stake in shares of Archrock by 0.7% in the first quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock worth $2,514,000 after acquiring an additional 667 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after acquiring an additional 902 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Archrock by 482.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,699 shares of the energy company’s stock worth $67,000 after acquiring an additional 2,236 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Archrock by 24.6% in the second quarter. First Trust Advisors LP now owns 279,100 shares of the energy company’s stock worth $6,930,000 after acquiring an additional 55,059 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Archrock by 19.8% in the second quarter. Daiwa Securities Group Inc. now owns 9,700 shares of the energy company’s stock worth $241,000 after acquiring an additional 1,600 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Price Performance

Shares of AROC stock opened at $37.25 on Monday. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.59 and a beta of 0.94. The business’s fifty day moving average is $36.46 and its 200 day moving average is $30.98. Archrock has a twelve month low of $21.17 and a twelve month high of $40.12. The company has a quick ratio of 0.91, a current ratio of 1.41 and a debt-to-equity ratio of 1.57.

Archrock (NYSE:AROC) last issued its quarterly earnings results on Tuesday, May 5th. The energy company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.05). The firm had revenue of $373.77 million during the quarter, compared to analysts’ expectations of $378.36 million. Archrock had a return on equity of 22.89% and a net margin of 21.45%.The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts expect that Archrock will post 1.95 EPS for the current fiscal year.

Archrock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 12th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 12th. Archrock’s dividend payout ratio is currently 47.83%.

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.