Archrock (NYSE:AROC) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Archrock (NYSE:AROC) had its price objective boosted by equities researchers at Royal Bank of Canada from $26.00 to $27.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 16.30% from the stock’s current price.

Several other research analysts have also recently weighed in on AROC. Evercore ISI began coverage on shares of Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective for the company. Citigroup started coverage on Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 price target on the stock. JPMorgan Chase & Co. started coverage on Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target on the stock. Stifel Nicolaus upped their price objective on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Mizuho initiated coverage on Archrock in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.67.

Archrock Stock Down 0.2 %

Shares of NYSE:AROC opened at $23.22 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 1.73. The stock has a fifty day simple moving average of $20.92 and a two-hundred day simple moving average of $20.33. Archrock has a 12-month low of $13.89 and a 12-month high of $24.71. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 25.51 and a beta of 1.52.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, research analysts anticipate that Archrock will post 1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archrock

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Archrock during the first quarter valued at approximately $43,000. BNP Paribas Financial Markets grew its stake in Archrock by 77.2% during the first quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock valued at $1,377,000 after acquiring an additional 30,493 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Archrock by 9.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock valued at $257,000 after acquiring an additional 1,079 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Archrock in the 1st quarter worth $133,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Archrock by 70.6% during the 1st quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock valued at $117,000 after purchasing an additional 2,461 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

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.