Archrock, Inc. (NYSE:AROC) Receives $38.14 Average Target Price from Brokerages

Archrock, Inc. (NYSE:AROC) has earned an average rating of “Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $38.1429.

Several brokerages recently issued reports on AROC. Wells Fargo & Company raised their price objective on Archrock from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Royal Bank Of Canada increased their target price on shares of Archrock from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research report on Wednesday, January 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Archrock in a report on Wednesday, February 25th. Finally, Citigroup boosted their price objective on shares of Archrock from $31.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, March 2nd.

Archrock Trading Up 0.9%

Shares of NYSE AROC opened at $34.81 on Friday. 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 stock’s 50 day moving average price is $33.35 and its two-hundred day moving average price is $28.00. Archrock has a 52-week low of $20.12 and a 52-week high of $37.72. The stock has a market capitalization of $6.10 billion, a P/E ratio of 19.02, a PEG ratio of 1.43 and a beta of 0.87.

Archrock (NYSE:AROC) last issued its earnings results on Wednesday, February 25th. The energy company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.40 by $0.29. Archrock had a return on equity of 23.57% and a net margin of 21.63%.The company had revenue of $377.07 million during the quarter, compared to analyst estimates of $378.04 million. During the same quarter last year, the firm earned $0.34 EPS. The business’s revenue was up 15.5% on a year-over-year basis. On average, analysts anticipate that Archrock will post 1.09 earnings per share for the current fiscal year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were paid a $0.22 dividend. The ex-dividend date was Tuesday, February 10th. This is an increase from Archrock’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. Archrock’s payout ratio is presently 48.09%.

Insider Activity at Archrock

In other news, 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 transaction of $382,573.62. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Financial Security Advisor Inc. increased its position in Archrock by 3.0% in the fourth quarter. Financial Security Advisor Inc. now owns 12,000 shares of the energy company’s stock worth $312,000 after buying an additional 344 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Archrock by 3.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 10,290 shares of the energy company’s stock valued at $268,000 after acquiring an additional 366 shares during the period. Severin Investments LLC grew its position in shares of Archrock by 2.0% during the fourth quarter. Severin Investments LLC now owns 20,111 shares of the energy company’s stock worth $523,000 after acquiring an additional 400 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Archrock by 71.0% in the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock worth $26,000 after acquiring an additional 403 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Archrock by 3.0% in the 3rd quarter. Allworth Financial LP now owns 15,030 shares of the energy company’s stock worth $395,000 after acquiring an additional 436 shares during the period. 95.45% of the stock is currently owned by institutional investors.

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.