Archrock, Inc. (NYSE:AROC) Stock Has Average Target Price of $42.12

Archrock, Inc. (NYSE:AROC) has earned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $42.12.

Several equities research analysts recently commented on AROC shares. Royal Bank Of Canada raised their target price on Archrock from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Zacks Research upgraded Archrock from a “strong sell” rating to a “hold” rating in a report on Thursday, November 5th. Wells Fargo & Company decreased their price target on Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Evercore set a $40.00 price objective on shares of Archrock in a research report on Monday, August 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Archrock from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th.

Archrock Stock Down 4.2%

Shares of NYSE AROC opened at $26.70 on Monday. Archrock has a 12-month low of $22.88 and a 12-month high of $42.23. The company has a market cap of $4.68 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.34 and a beta of 0.96. The company has a current ratio of 1.46, a quick ratio of 0.91 and a debt-to-equity ratio of 1.47. The stock has a fifty day moving average price of $30.42 and a 200 day moving average price of $34.09.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Tuesday, November 3rd. The energy company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. Archrock had a return on equity of 22.33% and a net margin of 22.89%. The company had revenue of $370.81 million for the quarter, compared to analysts’ expectations of $385.95 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. Research analysts anticipate that Archrock will post 1.73 EPS for the current fiscal year.

Archrock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Stockholders of record on Tuesday, November 3rd were paid a $0.23 dividend. The ex-dividend date was Tuesday, November 3rd. This represents a $0.92 annualized dividend and a dividend yield of 3.4%. Archrock’s dividend payout ratio is 47.42%.

Institutional Investors Weigh In On Archrock

A number of large investors have recently added to or reduced their stakes in AROC. BlackRock Inc. purchased a new position in Archrock in the second quarter valued at about $1,217,511,000. Bank of America Corp DE purchased a new position in shares of Archrock during the 2nd quarter valued at approximately $262,070,000. Bank of New York Mellon Corp purchased a new position in shares of Archrock during the 2nd quarter valued at approximately $84,463,000. Congress Asset Management Co. boosted its stake in shares of Archrock by 14.4% during the 3rd quarter. Congress Asset Management Co. now owns 2,532,464 shares of the energy company’s stock valued at $76,708,000 after buying an additional 319,256 shares during the last quarter. Finally, Energy Income Partners LLC acquired a new position in Archrock during the 2nd quarter worth $58,510,000. 95.45% of the stock is owned by institutional investors and hedge funds.

About Archrock

Archrock, Inc. provides natural gas compression services to companies in the oil and natural gas industry. Its equipment helps move natural gas from wells through gathering systems and pipelines, supporting production and transportation. The company’s contract operations include supplying, operating and maintaining compression equipment at customer sites. Through its aftermarket services business, Archrock provides maintenance, repair and other support for compression equipment, including units it did not originally supply.