Mizuho Boosts Archrock (NYSE:AROC) Price Target to $38.00

Archrock (NYSE:AROC) had its target price raised by equities research analysts at Mizuho from $32.00 to $38.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Mizuho’s target price suggests a potential upside of 11.22% from the company’s current price.

Several other brokerages have also commented on AROC. Stifel Nicolaus raised their price objective on Archrock from $31.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Raymond James Financial reiterated an “outperform” rating and set a $40.00 target price on shares of Archrock in a research report on Wednesday, February 25th. Wells Fargo & Company lifted their price target on shares of Archrock from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Zacks Research raised shares of Archrock from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Dawson James restated an “outperform” rating on shares of Archrock in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $39.00.

Archrock Trading Down 1.8%

AROC stock opened at $34.17 on Thursday. The company’s 50-day simple moving average is $33.47 and its 200-day simple moving average is $28.04. The company has a quick ratio of 0.99, a current ratio of 1.54 and a debt-to-equity ratio of 1.62. Archrock has a 52-week low of $20.12 and a 52-week high of $37.72. The firm has a market cap of $5.99 billion, a P/E ratio of 18.67, a PEG ratio of 1.45 and a beta of 0.87.

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

Insiders Place Their Bets

In other news, CAO Donna A. Henderson sold 10,413 shares of the business’s 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 transaction, the chief accounting officer directly owned 27,757 shares in the company, valued at $1,019,792.18. The trade was a 27.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archrock

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC boosted its stake in Archrock by 71.0% during the fourth quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock worth $26,000 after buying an additional 403 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Archrock in the 3rd quarter worth $27,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Archrock during the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB boosted its position in shares of Archrock by 164.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock valued at $28,000 after acquiring an additional 673 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Archrock during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.