Archrock (NYSE:AROC) Upgraded to “Hold” at Sidoti

Sidoti upgraded shares of Archrock (NYSE:AROC) to a hold rating in a research report released on Wednesday,Zacks.com reports.

Separately, Citigroup raised their target price on shares of Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Archrock presently has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Archrock Trading Up 2.0 %

Shares of AROC stock opened at $24.33 on Wednesday. The stock has a market cap of $4.26 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.60 and a beta of 1.19. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. Archrock has a fifty-two week low of $17.27 and a fifty-two week high of $30.44. The business has a fifty day simple moving average of $24.37 and a 200-day simple moving average of $25.17.

Archrock (NYSE:AROC) last posted its earnings results on Monday, May 5th. The energy company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $347.16 million during the quarter, compared to the consensus estimate of $342.98 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. On average, analysts forecast that Archrock will post 1.09 earnings per share for the current fiscal year.

Archrock declared that its board has approved a stock buyback plan on Monday, May 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the energy company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Archrock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.12%. Archrock’s dividend payout ratio (DPR) is 64.41%.

Hedge Funds Weigh In On Archrock

A number of hedge funds and other institutional investors have recently bought and sold shares of AROC. Summit Investment Advisors Inc. lifted its holdings in shares of Archrock by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 17,459 shares of the energy company’s stock worth $435,000 after purchasing an additional 553 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Archrock by 4.7% in the first quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company’s stock valued at $335,000 after buying an additional 574 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Archrock by 6.0% during the first quarter. Ballentine Partners LLC now owns 10,133 shares of the energy company’s stock worth $266,000 after acquiring an additional 575 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Archrock by 164.8% during the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock valued at $26,000 after purchasing an additional 600 shares during the period. Finally, New York State Teachers Retirement System grew its position in Archrock by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 146,819 shares of the energy company’s stock worth $3,853,000 after purchasing an additional 600 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.