Archrock, Inc. (NYSE:AROC) Receives Consensus Rating of “Buy” from 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 firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $24.50.

Several research firms have recently weighed in on AROC. Evercore ISI began coverage on Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. started coverage on shares of Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price for the company. Mizuho began coverage on shares of Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada boosted their target price on shares of Archrock from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AROC. Boston Partners purchased a new position in Archrock during the first quarter worth about $24,875,000. Millennium Management LLC grew its holdings in shares of Archrock by 60.3% during the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after purchasing an additional 882,024 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Archrock by 4.9% in the first quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after purchasing an additional 849,750 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Archrock by 171.5% in the fourth 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. Finally, American Century Companies Inc. lifted its position in Archrock by 20.5% during the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock valued at $80,036,000 after purchasing an additional 672,663 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of AROC stock opened at $20.67 on Friday. Archrock has a 52 week low of $12.41 and a 52 week high of $23.44. The firm’s 50-day simple moving average is $20.15 and its two-hundred day simple moving average is $20.15. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 24.90 and a beta of 1.51. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53.

Archrock (NYSE:AROC) last posted 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 return on equity of 16.35% and a net margin of 13.20%. The business had revenue of $270.53 million for the quarter, compared to the consensus estimate of $270.61 million. As a group, equities analysts forecast that Archrock will post 1.07 earnings per share for the current year.

Archrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.19%. The ex-dividend date was Tuesday, August 6th. Archrock’s payout ratio is 79.52%.

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.