Archrock (NYSE:AROC) Coverage Initiated by Analysts at Evercore ISI

Investment analysts at Evercore ISI assumed coverage on shares of Archrock (NYSE:AROC) in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $24.00 price target on the energy company’s stock. Evercore ISI’s price objective indicates a potential upside of 14.20% from the company’s current price.

A number of other research firms also recently issued reports on AROC. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Archrock in a research report on Wednesday, August 7th. StockNews.com lowered Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. JPMorgan Chase & Co. assumed coverage on Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target on the stock. Finally, Stifel Nicolaus upped their price objective on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.00.

Archrock Trading Down 0.8 %

NYSE:AROC opened at $21.02 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. Archrock has a 12 month low of $11.73 and a 12 month high of $23.44. The business’s 50-day moving average is $20.06 and its two-hundred day moving average is $19.93. The firm has a market capitalization of $3.55 billion, a PE ratio of 25.32 and a beta of 1.51.

Archrock (NYSE:AROC) last announced its earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $270.53 million for the quarter, compared to analyst estimates of $270.61 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. Research analysts predict that Archrock will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Archrock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AROC. Allspring Global Investments Holdings LLC acquired a new position in shares of Archrock during the 1st quarter valued at $43,000. Quarry LP acquired a new position in Archrock during the second quarter worth about $52,000. CWM LLC lifted its holdings in Archrock by 382.0% in the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after acquiring an additional 2,846 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Archrock by 16.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after purchasing an additional 578 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Archrock in the 2nd quarter worth approximately $101,000. 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.