Archrock, Inc. (NYSE:AROC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Archrock, Inc. (NYSE:AROC) have been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $22.33.

Several equities analysts have commented on the company. StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Citigroup assumed coverage on Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price target for the company. JPMorgan Chase & Co. assumed coverage on Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target for the company. Evercore ISI assumed coverage on Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 target price on shares of Archrock in a report on Wednesday, August 7th.

Archrock Price Performance

NYSE AROC opened at $20.68 on Wednesday. Archrock has a twelve month low of $11.73 and a twelve month high of $23.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. The stock has a market capitalization of $3.23 billion, a PE ratio of 24.91 and a beta of 1.51. The stock has a 50-day simple moving average of $19.85 and a 200 day simple moving average of $19.98.

Archrock (NYSE:AROC) last posted its quarterly earnings results on Tuesday, July 30th. The energy company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $270.53 million during the quarter, compared to analysts’ expectations of $270.61 million. Archrock had a return on equity of 16.35% and a net margin of 13.20%. Research analysts anticipate that Archrock will post 1.07 EPS for the current year.

Archrock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.19%. Archrock’s payout ratio is presently 79.52%.

Institutional Investors Weigh In On Archrock

A number of large investors have recently bought and sold shares of AROC. Norges Bank bought a new stake in Archrock during the 4th quarter worth approximately $15,958,000. Wells Fargo & Company MN grew its position in Archrock by 7.1% during the 4th quarter. Wells Fargo & Company MN now owns 752,819 shares of the energy company’s stock worth $11,593,000 after acquiring an additional 49,697 shares during the last quarter. Franklin Resources Inc. grew its position in Archrock by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 75,639 shares of the energy company’s stock worth $1,165,000 after acquiring an additional 3,301 shares during the last quarter. Allianz Asset Management GmbH grew its position in Archrock by 302.9% during the 4th quarter. Allianz Asset Management GmbH now owns 912,784 shares of the energy company’s stock worth $14,057,000 after acquiring an additional 686,242 shares during the last quarter. Finally, Boulder Hill Capital Management LP bought a new stake in Archrock during the 4th quarter worth approximately $662,000. 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.