Archrock, Inc. (NYSE:AROC) Receives $24.50 Consensus Price Target from Brokerages

Archrock, Inc. (NYSE:AROC) has earned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $24.67.

Several brokerages have recently issued reports on AROC. Stifel Nicolaus increased their price objective on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup assumed coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 target price on the stock. Mizuho assumed coverage on shares of Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target for the company. Evercore ISI initiated coverage on Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday.

Institutional Investors Weigh In On Archrock

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Archrock by 16.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,794,981 shares of the energy company’s stock worth $76,826,000 after acquiring an additional 523,825 shares in the last quarter. Barclays PLC increased its position in shares of Archrock by 124.2% in the third quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock valued at $6,125,000 after buying an additional 167,648 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Archrock by 5,621.6% during the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after buying an additional 2,080 shares during the last quarter. XTX Topco Ltd acquired a new stake in Archrock in the 3rd quarter valued at about $229,000. Finally, Insigneo Advisory Services LLC acquired a new position in Archrock during the third quarter worth about $355,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Archrock Price Performance

NYSE:AROC opened at $23.22 on Thursday. Archrock has a one year low of $13.89 and a one year high of $24.71. The stock has a market cap of $4.07 billion, a PE ratio of 25.52 and a beta of 1.52. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26. The stock has a 50 day moving average price of $20.92 and a 200 day moving average price of $20.34.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. Equities research analysts expect that Archrock will post 1.13 EPS for the current fiscal year.

Archrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.01%. This is a boost from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. Archrock’s dividend payout ratio is presently 76.92%.

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.