Royal Bank of Canada Forecasts Strong Price Appreciation for Archrock (NYSE:AROC) Stock

Archrock (NYSE:AROC) had its price target upped by equities researchers at Royal Bank of Canada from $26.00 to $27.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the energy company’s stock. Royal Bank of Canada’s target price points to a potential upside of 16.78% from the stock’s previous close.

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

Archrock Price Performance

Archrock stock traded down $0.54 during mid-day trading on Thursday, hitting $23.12. The company’s stock had a trading volume of 354,312 shares, compared to its average volume of 1,423,770. The stock has a market capitalization of $3.91 billion, a P/E ratio of 25.41 and a beta of 1.52. Archrock has a twelve month low of $13.89 and a twelve month high of $24.71. The stock’s fifty day moving average price is $20.76 and its two-hundred day moving average price is $20.29. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80.

Archrock (NYSE:AROC) last announced its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Archrock had a return on equity of 18.12% and a net margin of 13.34%. The company had revenue of $292.16 million for the quarter, compared to analyst estimates of $286.19 million. During the same period in the previous year, the firm earned $0.20 earnings per share. Archrock’s revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts forecast that Archrock will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AROC. UniSuper Management Pty Ltd acquired a new position in Archrock during the first quarter valued at approximately $852,000. BNP Paribas Financial Markets lifted its position in Archrock by 77.2% during the 1st quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock worth $1,377,000 after acquiring an additional 30,493 shares during the last quarter. Algert Global LLC boosted its holdings in Archrock by 175.7% during the second quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock valued at $11,470,000 after acquiring an additional 361,520 shares during the period. Quest Partners LLC grew its position in shares of Archrock by 145.8% in the second quarter. Quest Partners LLC now owns 76,650 shares of the energy company’s stock valued at $1,550,000 after purchasing an additional 45,466 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Archrock by 15.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 207,351 shares of the energy company’s stock worth $4,079,000 after purchasing an additional 27,625 shares during the period. 95.45% of the stock is 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.