Archrock, Inc. (NYSE:AROC) Receives $24.50 Average Price Target from Brokerages

Archrock, Inc. (NYSE:AROC) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.50.

AROC has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on Archrock in a research note on Friday, September 6th. They set an “overweight” rating and a $24.00 price target for the company. Mizuho initiated coverage on Archrock in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price target for the company. Royal Bank of Canada lifted their price target on Archrock from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Citigroup initiated coverage on Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Archrock by 171.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,332,058 shares of the energy company’s stock valued at $20,514,000 after buying an additional 841,366 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Archrock during the 4th quarter valued at approximately $752,000. Vanguard Group Inc. raised its position in shares of Archrock by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 17,471,805 shares of the energy company’s stock valued at $269,066,000 after acquiring an additional 62,200 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Archrock by 8.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 117,087 shares of the energy company’s stock valued at $2,303,000 after acquiring an additional 9,088 shares in the last quarter. Finally, Southland Equity Partners LLC acquired a new stake in Archrock in the first quarter worth $267,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of Archrock stock opened at $20.38 on Friday. The firm’s fifty day simple moving average is $20.21 and its 200-day simple moving average is $20.13. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 24.55 and a beta of 1.51. Archrock has a 12 month low of $12.41 and a 12 month high of $23.44. 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 (NYSE:AROC) last posted its quarterly earnings data on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $270.53 million for the quarter, compared to analyst estimates of $270.61 million. Archrock had a net margin of 13.20% and a return on equity of 16.35%. As a group, equities analysts forecast that Archrock will post 1.07 earnings per share for the current year.

Archrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Tuesday, August 6th. Archrock’s dividend payout ratio is currently 79.52%.

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.