Mizuho Initiates Coverage on Archrock (NYSE:AROC)

Equities researchers at Mizuho initiated coverage on shares of Archrock (NYSE:AROC) in a note issued to investors on Wednesday, Briefing.com reports. The firm set an “outperform” rating and a $24.00 price target on the energy company’s stock. Mizuho’s price target points to a potential upside of 16.08% from the stock’s previous close.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. initiated coverage on Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Archrock in a report on Wednesday, August 7th. Stifel Nicolaus boosted their price objective on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Evercore ISI assumed coverage on Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 target price for the company. Finally, StockNews.com downgraded shares of Archrock from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.57.

Archrock Price Performance

Shares of AROC opened at $20.68 on Wednesday. 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 stock has a market cap of $3.23 billion, a PE ratio of 24.91 and a beta of 1.51. Archrock has a 12-month low of $11.73 and a 12-month high of $23.44. The business has a 50-day simple moving average of $19.85 and a two-hundred day simple moving average of $19.98.

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

Institutional Investors Weigh In On Archrock

Several large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Archrock in the 1st quarter valued at approximately $43,000. Quarry LP purchased a new position in shares of Archrock in the second quarter valued at $52,000. CWM LLC raised its stake in shares of Archrock by 382.0% during the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares during the period. GAMMA Investing LLC lifted its holdings in Archrock by 16.6% during 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 in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Archrock in the 2nd quarter worth about $101,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.