Archrock (NYSE:AROC) PT Raised to $26.00

Archrock (NYSE:AROC) had its target price lifted by equities research analysts at Royal Bank of Canada from $22.00 to $26.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 23.19% from the company’s previous close.

AROC has been the topic of several other reports. Mizuho started coverage on Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective on the stock. Evercore ISI started coverage on Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 target price on the stock. JPMorgan Chase & Co. started coverage on Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup initiated coverage on shares of Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.50.

Archrock Stock Down 1.7 %

NYSE AROC opened at $21.11 on Wednesday. The stock has a 50 day moving average price of $20.11 and a 200-day moving average price of $20.14. Archrock has a one year low of $12.41 and a one year high of $23.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. The company has a market capitalization of $3.30 billion, a P/E ratio of 25.43 and a beta of 1.51.

Archrock (NYSE:AROC) last released its quarterly earnings data on Tuesday, July 30th. The energy company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Archrock had a net margin of 13.20% and a return on equity of 16.35%. The business had revenue of $270.53 million during the quarter, compared to analyst estimates of $270.61 million. As a group, equities analysts predict that Archrock will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Archrock

Several institutional investors have recently made changes to their positions in AROC. Goldman Sachs Group Inc. raised its holdings in shares of Archrock by 171.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,332,058 shares of the energy company’s stock valued at $20,514,000 after purchasing an additional 841,366 shares in the last quarter. Fisher Asset Management LLC bought a new position in Archrock in the fourth quarter worth approximately $752,000. Vanguard Group Inc. lifted its holdings in Archrock by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 17,471,805 shares of the energy company’s stock worth $269,066,000 after buying an additional 62,200 shares during the period. Los Angeles Capital Management LLC boosted its position in Archrock by 8.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 117,087 shares of the energy company’s stock valued at $2,303,000 after acquiring an additional 9,088 shares in the last quarter. Finally, Southland Equity Partners LLC purchased a new position in shares of Archrock in the 1st quarter valued at $267,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

About Archrock

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.