Archrock, Inc. (NYSE:AROC) Receives Average Rating of “Buy” from Brokerages

Shares of Archrock, Inc. (NYSE:AROC) have been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $25.17.

Several brokerages have recently issued reports on AROC. JPMorgan Chase & Co. raised their price target on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Royal Bank of Canada boosted their target price on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Mizuho assumed coverage on Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target for the company. Evercore ISI began coverage on Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective on the stock. Finally, Citigroup initiated coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 target price for the company.

Archrock Stock Up 1.7 %

AROC stock opened at $25.31 on Friday. The stock has a market cap of $4.43 billion, a P/E ratio of 27.81 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The stock’s fifty day simple moving average is $24.09 and its two-hundred day simple moving average is $21.62. Archrock has a 1-year low of $14.39 and a 1-year high of $27.05.

Archrock (NYSE:AROC) last issued its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. During the same period in the previous year, the firm earned $0.20 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. Analysts expect that Archrock will post 1.09 EPS for the current year.

Archrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock’s dividend payout ratio is presently 76.92%.

Hedge Funds Weigh In On Archrock

Hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. boosted its holdings in Archrock by 0.9% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 50,654 shares of the energy company’s stock valued at $1,025,000 after purchasing an additional 427 shares during the period. Atria Investments Inc grew its position in Archrock by 2.3% during the third quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock worth $661,000 after buying an additional 746 shares in the last quarter. Van ECK Associates Corp increased its stake in Archrock by 2.2% in the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock worth $713,000 after acquiring an additional 753 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Archrock by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 41,565 shares of the energy company’s stock valued at $840,000 after acquiring an additional 821 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in shares of Archrock by 2.7% during the third quarter. Glenmede Trust Co. NA now owns 31,485 shares of the energy company’s stock worth $637,000 after purchasing an additional 838 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.