Archrock, Inc. (NYSE:AROC) Stock Has Average Price Target of $42.29 According to Brokerages

Shares of Archrock, Inc. (NYSE:AROC) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $42.29.

Several equities research analysts have weighed in on the company. Mizuho upped their price target on Archrock from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Weiss Ratings cut Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company lowered their price objective on Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Zacks Research lowered shares of Archrock from a “hold” rating to a “strong sell” rating in a research note on Monday, August 31st. Finally, Evercore set a $40.00 target price on shares of Archrock in a report on Monday, August 17th.

Archrock Stock Performance

NYSE:AROC opened at $30.50 on Friday. Archrock has a 52 week low of $22.88 and a 52 week high of $42.23. The company has a fifty day simple moving average of $33.16 and a two-hundred day simple moving average of $35.45. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 1.51. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.07). The company had revenue of $371.24 million during the quarter, compared to analyst estimates of $393.19 million. Archrock had a net margin of 21.84% and a return on equity of 22.22%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 earnings per share. As a group, equities analysts anticipate that Archrock will post 1.73 earnings per share for the current fiscal year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, August 4th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Archrock’s previous quarterly dividend of $0.22. Archrock’s payout ratio is currently 49.46%.

Institutional Investors Weigh In On Archrock

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Archrock during the 2nd quarter worth about $1,217,511,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Archrock by 15,293.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 138,388 shares of the energy company’s stock worth $3,601,000 after acquiring an additional 137,489 shares in the last quarter. Marietta Investment Partners LLC purchased a new stake in Archrock during the fourth quarter worth approximately $1,611,000. Algert Global LLC lifted its stake in Archrock by 85.8% during the second quarter. Algert Global LLC now owns 225,040 shares of the energy company’s stock worth $9,161,000 after purchasing an additional 103,890 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in Archrock during the second quarter worth approximately $262,070,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

About Archrock

Archrock, Inc (NYSE: AROC) is a Houston-based energy infrastructure company that provides natural gas compression services in the United States. Compression is used to increase the pressure of natural gas so it can be gathered, processed, transported, stored and delivered through pipeline systems. Archrock serves customers across major U.S. natural gas production and pipeline regions.

The company primarily operates through contract compression services, supplying compression equipment and related field services under customer agreements.