Archrock (NYSE:AROC) Rating Lowered to “Hold” at Zacks Research

Archrock (NYSE:AROC) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on AROC. Wells Fargo & Company assumed coverage on Archrock in a research report on Wednesday, September 3rd. They set an “overweight” rating and a $30.00 price objective for the company. Royal Bank Of Canada lifted their price target on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Evercore ISI raised their target price on shares of Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a report on Wednesday, October 8th. Finally, Mizuho boosted their price target on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Archrock Price Performance

AROC stock opened at $23.43 on Tuesday. The company’s 50-day moving average price is $24.79 and its two-hundred day moving average price is $24.52. The firm has a market cap of $4.11 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.29 and a beta of 1.11. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. Archrock has a 12 month low of $20.12 and a 12 month high of $30.44.

Archrock (NYSE:AROC) last issued its quarterly earnings results on Wednesday, October 29th. The energy company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Archrock had a net margin of 18.43% and a return on equity of 20.40%. The company had revenue of $382.43 million during the quarter, compared to the consensus estimate of $379.29 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 30.9% on a year-over-year basis. On average, analysts anticipate that Archrock will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Archrock

In other Archrock news, Director Jason C. Rebrook bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were bought at an average price of $23.94 per share, for a total transaction of $119,700.00. Following the transaction, the director directly owned 79,511 shares in the company, valued at approximately $1,903,493.34. This trade represents a 6.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eric W. Thode sold 40,740 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $25.10, for a total value of $1,022,574.00. Following the sale, the senior vice president directly owned 184,216 shares of the company’s stock, valued at $4,623,821.60. This represents a 18.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Archrock

Institutional investors and hedge funds have recently modified their holdings of the business. Danske Bank A S acquired a new stake in shares of Archrock during the 3rd quarter worth approximately $1,403,000. Integrated Investment Consultants LLC acquired a new position in shares of Archrock during the 3rd quarter valued at $11,242,000. Armistice Capital LLC bought a new position in Archrock during the third quarter worth $2,317,000. PharVision Advisers LLC bought a new stake in Archrock in the 3rd quarter valued at about $317,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Archrock during the third quarter valued at approximately $3,673,000. 95.45% of the stock is currently owned by institutional investors.

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.