Citigroup Initiates Coverage on Archrock (NYSE:AROC)

Equities research analysts at Citigroup initiated coverage on shares of Archrock (NYSE:AROC) in a report issued on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $24.00 price target on the energy company’s stock. Citigroup’s price target would indicate a potential upside of 19.05% from the company’s current price.

A number of other brokerages have also recently commented on AROC. StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Evercore ISI started coverage on shares of Archrock in a research report on Wednesday. They issued an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Archrock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Archrock has an average rating of “Moderate Buy” and a consensus target price of $22.33.

Archrock Stock Down 3.6 %

Archrock stock opened at $20.16 on Friday. Archrock has a 12-month low of $11.73 and a 12-month high of $23.44. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $3.41 billion, a PE ratio of 24.29 and a beta of 1.51. The firm’s fifty day moving average is $19.97 and its 200 day moving average is $19.93.

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

Institutional Trading of Archrock

Several hedge funds have recently made changes to their positions in AROC. Vanguard Group Inc. increased its holdings in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock worth $360,385,000 after acquiring an additional 849,750 shares during the last quarter. Earnest Partners LLC raised its holdings in Archrock by 2.6% during the 1st quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock valued at $275,536,000 after acquiring an additional 351,391 shares during the period. Blackstone Inc. lifted its position in shares of Archrock by 4,211.9% during the fourth quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after acquiring an additional 5,766,237 shares in the last quarter. Sei Investments Co. grew its position in shares of Archrock by 5.8% in the first quarter. Sei Investments Co. now owns 5,409,863 shares of the energy company’s stock valued at $106,412,000 after purchasing an additional 295,998 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Archrock by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after purchasing an additional 672,663 shares during the period. 95.45% of the stock is currently owned by institutional investors.

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.