Brokerages Set Archrock, Inc. (NYSE:AROC) Target Price at $32.40

Archrock, Inc. (NYSE:AROC) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $32.40.

AROC has been the subject of several analyst reports. Royal Bank Of Canada upped their price objective on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Evercore ISI upped their price target on Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Archrock in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Archrock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th.

Insider Transactions at Archrock

In other Archrock news, SVP Eric W. Thode sold 40,740 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $25.10, for a total transaction of $1,022,574.00. Following the transaction, the senior vice president owned 184,216 shares in the company, valued at approximately $4,623,821.60. The trade was a 18.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ameriflex Group Inc. acquired a new stake in Archrock in the third quarter valued at $27,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Archrock by 164.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock valued at $28,000 after purchasing an additional 673 shares during the period. Jones Financial Companies Lllp boosted its holdings in Archrock by 217.9% during the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after buying an additional 902 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in Archrock during the third quarter worth about $34,000. Finally, Farther Finance Advisors LLC grew its position in Archrock by 49.9% during the third quarter. Farther Finance Advisors LLC now owns 1,640 shares of the energy company’s stock worth $43,000 after buying an additional 546 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Trading Up 1.3%

Shares of Archrock stock opened at $26.52 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.01 and a current ratio of 1.56. The company has a market capitalization of $4.65 billion, a P/E ratio of 17.68, a PEG ratio of 1.20 and a beta of 0.92. Archrock has a 1 year low of $20.12 and a 1 year high of $30.44. The company’s fifty day moving average is $25.15 and its two-hundred day moving average is $24.64.

Archrock (NYSE:AROC) last announced its earnings results on Wednesday, October 29th. The energy company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Archrock had a net margin of 18.43% and a return on equity of 20.17%. The business had revenue of $382.43 million during the quarter, compared to analysts’ expectations of $379.29 million. During the same period in the prior year, the company earned $0.28 earnings per share. The business’s revenue was up 30.9% compared to the same quarter last year. Analysts forecast that Archrock will post 1.09 earnings per share for the current year.

Archrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Tuesday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, November 4th. Archrock’s payout ratio is 56.00%.

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.