Weiss Ratings Reiterates “Buy (B)” Rating for Archrock (NYSE:AROC)

Archrock (NYSE:AROC)‘s stock had its “buy (b)” rating reiterated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

AROC has been the subject of a number of other reports. Mizuho raised 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. Wells Fargo & Company initiated coverage on Archrock in a research report on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 price objective on the stock. Finally, Evercore ISI decreased their target price on Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Archrock Price Performance

NYSE AROC opened at $25.01 on Wednesday. The company has a market cap of $4.40 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.33 and a beta of 1.07. Archrock has a 52 week low of $19.73 and a 52 week high of $30.44. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The firm’s 50-day simple moving average is $24.51 and its two-hundred day simple moving average is $24.40.

Archrock (NYSE:AROC) last released its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The business had revenue of $383.15 million for the quarter, compared to the consensus estimate of $366.34 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The company’s revenue was up 41.6% compared to the same quarter last year. Research analysts predict that Archrock will post 1.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jason C. Rebrook acquired 10,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was purchased at an average cost of $24.17 per share, for a total transaction of $241,700.00. Following the acquisition, the director owned 74,511 shares of the company’s stock, valued at $1,800,930.87. This trade represents a 15.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Eric W. Thode sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the sale, the senior vice president owned 224,809 shares of the company’s stock, valued at $5,292,003.86. The trade was a 4.26% decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Invesco Ltd. raised its stake in shares of Archrock by 1.4% during the second quarter. Invesco Ltd. now owns 9,080,037 shares of the energy company’s stock worth $225,457,000 after acquiring an additional 128,141 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Archrock by 9.2% during the 2nd quarter. American Century Companies Inc. now owns 5,886,085 shares of the energy company’s stock valued at $146,152,000 after purchasing an additional 497,121 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Archrock by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 4,063,469 shares of the energy company’s stock valued at $100,909,000 after purchasing an additional 42,050 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Archrock by 17.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,292,302 shares of the energy company’s stock valued at $60,150,000 after buying an additional 334,858 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Archrock by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 2,058,502 shares of the energy company’s stock valued at $51,113,000 after buying an additional 20,048 shares during the period. 95.45% of the stock is owned by hedge funds and other 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.