Archrock, Inc. (NYSE:AROC) Given Average Recommendation of “Buy” by Brokerages

Shares of Archrock, Inc. (NYSE:AROC) have been given a consensus rating of “Buy” by the six research firms that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $24.67.

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Archrock in a research note on Friday, September 6th. They set an “overweight” rating and a $24.00 target price for the company. Royal Bank of Canada upped their target price on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Mizuho assumed coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target for the company. Citigroup assumed coverage on Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Evercore ISI started coverage on Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price target on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AROC. Vanguard Group Inc. raised its stake in Archrock by 4.9% in the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock valued at $360,385,000 after buying an additional 849,750 shares during the last quarter. Earnest Partners LLC grew its position in Archrock by 2.6% during the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock worth $275,536,000 after purchasing an additional 351,391 shares during the last quarter. State Street Corp increased its stake in Archrock by 11.5% during the 3rd quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock valued at $138,376,000 after purchasing an additional 707,379 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Archrock by 20.5% in the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after buying an additional 672,663 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Archrock by 16.0% during the third quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock valued at $76,826,000 after buying an additional 523,825 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Stock Up 3.2 %

NYSE AROC opened at $23.97 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock has a 52 week low of $13.95 and a 52 week high of $24.71. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 26.33 and a beta of 1.52. The company has a fifty day moving average of $20.92 and a two-hundred day moving average of $20.35.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS 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 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 company earned $0.20 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts predict that Archrock will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.92%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. Archrock’s payout ratio is presently 76.92%.

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.