Archrock (NYSE:AROC) Reaches New 12-Month High – Here’s Why

Archrock, Inc. (NYSE:AROC) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $24.92 and last traded at $24.62, with a volume of 38567 shares trading hands. The stock had previously closed at $24.32.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AROC shares. Royal Bank of Canada lifted their price target on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Evercore ISI started coverage on shares of Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective on the stock. Mizuho assumed coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective on the stock. Finally, Citigroup initiated coverage on shares of Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.67.

Archrock Stock Up 0.4 %

The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The stock has a 50-day simple moving average of $21.39 and a 200-day simple moving average of $20.47. The firm has a market capitalization of $4.53 billion, a PE ratio of 28.41 and a beta of 1.52.

Archrock (NYSE:AROC) last posted its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. During the same quarter in the previous year, the firm earned $0.20 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. Analysts forecast that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 2.71%. Archrock’s dividend payout ratio is currently 76.92%.

Institutional Investors Weigh In On Archrock

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted 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 valued at $82,000 after purchasing an additional 578 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Archrock by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock valued at $1,658,000 after purchasing an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Archrock by 6.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock valued at $230,000 after purchasing an additional 713 shares in the last quarter. Atria Investments Inc lifted its position in shares of Archrock by 2.3% in the third quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock valued at $661,000 after acquiring an additional 746 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Archrock by 2.2% in the second quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock valued at $713,000 after acquiring an additional 753 shares in the last quarter. Hedge funds and other 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.