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

Archrock, Inc. (NYSE:AROC) has been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $24.67.

A number of research analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Mizuho started coverage on Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target for the company. Citigroup started coverage on shares of Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus raised their price target on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th.

Institutional Trading of Archrock

Hedge funds have recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP raised its stake in Archrock by 1,680.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 1,530,440 shares of the energy company’s stock worth $30,976,000 after purchasing an additional 1,444,471 shares during the period. Boston Partners acquired a new stake in shares of Archrock during the 1st quarter worth approximately $24,875,000. Eagle Asset Management Inc. purchased a new stake in shares of Archrock during the 3rd quarter valued at approximately $22,108,000. Millennium Management LLC grew its position in Archrock by 60.3% in the second quarter. Millennium Management LLC now owns 2,343,652 shares of the energy company’s stock worth $47,389,000 after acquiring an additional 882,024 shares during the period. Finally, Vanguard Group Inc. increased its stake in Archrock by 4.9% during the first 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. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Stock Performance

Shares of NYSE AROC opened at $23.97 on Thursday. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 26.33 and a beta of 1.52. Archrock has a 12 month low of $13.95 and a 12 month high of $24.71. The company has a 50 day simple moving average of $20.92 and a two-hundred day simple moving average of $20.35. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 1.73.

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

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a dividend of $0.175 per share. The ex-dividend date was Wednesday, November 6th. This is a positive change from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 2.92%. Archrock’s payout ratio is presently 76.92%.

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.