JPMorgan Chase & Co. Issues Positive Forecast for Archrock (NYSE:AROC) Stock Price

Archrock (NYSE:AROC) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $25.00 to $27.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 5.43% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Citigroup started coverage on Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 target price for the company. Royal Bank of Canada upped their target price on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Mizuho initiated coverage on Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Evercore ISI initiated coverage on Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Archrock currently has a consensus rating of “Moderate Buy” and an average target price of $25.17.

Archrock Stock Performance

NYSE:AROC traded up $0.69 during trading hours on Friday, reaching $25.61. The company had a trading volume of 138,144 shares, compared to its average volume of 1,415,544. Archrock has a 1-year low of $14.14 and a 1-year high of $26.36. The firm has a market cap of $4.49 billion, a PE ratio of 28.04 and a beta of 1.52. The business’s 50 day moving average price is $21.91 and its 200-day moving average price is $20.65. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.82.

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

Institutional Investors Weigh In On Archrock

Large investors have recently bought and sold shares of the stock. Algert Global LLC increased its holdings in Archrock by 175.7% during the 2nd quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock worth $11,470,000 after purchasing an additional 361,520 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Archrock during the 3rd quarter worth about $200,000. Quest Partners LLC increased its holdings in Archrock by 145.8% during the 2nd quarter. Quest Partners LLC now owns 76,650 shares of the energy company’s stock worth $1,550,000 after purchasing an additional 45,466 shares during the period. Van ECK Associates Corp increased its holdings in shares of Archrock by 93.5% in the 3rd quarter. Van ECK Associates Corp now owns 68,251 shares of the energy company’s stock valued at $1,383,000 after acquiring an additional 32,971 shares during the last quarter. Finally, Boston Partners purchased a new position in shares of Archrock in the 1st quarter valued at about $24,875,000. 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.