Wall Street analysts predict that Archrock Inc (NYSE:AROC) will post sales of $232.16 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Archrock’s earnings. The highest sales estimate is $232.50 million and the lowest is $231.81 million. Archrock posted sales of $208.94 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The business is scheduled to report its next quarterly earnings results on Thursday, February 28th.
According to Zacks, analysts expect that Archrock will report full year sales of $903.45 million for the current financial year, with estimates ranging from $903.10 million to $903.80 million. For the next fiscal year, analysts forecast that the company will post sales of $1.03 billion, with estimates ranging from $1.02 billion to $1.04 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Archrock.
Archrock (NYSE:AROC) last posted its quarterly earnings results on Wednesday, October 31st. The energy company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $232.37 million during the quarter, compared to analysts’ expectations of $226.19 million. Archrock had a net margin of 6.32% and a return on equity of 2.49%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Archrock from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday. ValuEngine upgraded shares of Archrock from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Finally, Piper Jaffray Companies set a $14.00 target price on shares of Archrock and gave the company a “buy” rating in a research note on Thursday, October 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Archrock currently has an average rating of “Buy” and an average target price of $14.00.
In other news, insider Doug S. Aron purchased 8,000 shares of the company’s stock in a transaction dated Tuesday, December 11th. The shares were bought at an average price of $8.81 per share, with a total value of $70,480.00. Following the completion of the transaction, the insider now directly owns 64,715 shares in the company, valued at approximately $570,139.15. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO D Bradley Childers purchased 10,810 shares of the company’s stock in a transaction dated Tuesday, December 11th. The stock was purchased at an average cost of $9.05 per share, for a total transaction of $97,830.50. Following the transaction, the chief executive officer now owns 941,959 shares of the company’s stock, valued at $8,524,728.95. The disclosure for this purchase can be found here. Insiders acquired 26,310 shares of company stock valued at $242,636 over the last quarter. Corporate insiders own 2.54% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC raised its position in shares of Archrock by 33.5% in the third quarter. MetLife Investment Advisors LLC now owns 84,132 shares of the energy company’s stock valued at $1,026,000 after purchasing an additional 21,132 shares during the period. Allianz Asset Management GmbH bought a new position in shares of Archrock in the third quarter valued at approximately $378,000. Marshall Wace North America L.P. bought a new position in shares of Archrock in the third quarter valued at approximately $6,758,000. Commonwealth Bank of Australia bought a new position in shares of Archrock in the third quarter valued at approximately $269,000. Finally, Vident Investment Advisory LLC bought a new position in shares of Archrock in the third quarter valued at approximately $2,212,000. 88.40% of the stock is currently owned by institutional investors.
NYSE AROC opened at $8.99 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.46 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -44.95 and a beta of 2.79. Archrock has a 12-month low of $7.26 and a 12-month high of $13.75.
Archrock Company Profile
Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.
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