Archrock (NYSE:AROC) Now Covered by Evercore ISI

Equities researchers at Evercore ISI assumed coverage on shares of Archrock (NYSE:AROC) in a research report issued on Wednesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $24.00 price target on the energy company’s stock. Evercore ISI’s price target indicates a potential upside of 19.05% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Archrock in a research report on Wednesday, August 7th. Stifel Nicolaus increased their target price on Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. began coverage on Archrock in a research report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target for the company. Finally, StockNews.com cut Archrock from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Archrock Stock Down 3.6 %

AROC stock opened at $20.16 on Wednesday. The stock has a market capitalization of $3.41 billion, a P/E ratio of 24.29 and a beta of 1.51. The firm has a 50-day moving average price of $19.97 and a 200-day moving average price of $19.93. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80. Archrock has a 12 month low of $11.73 and a 12 month high of $23.44.

Archrock (NYSE:AROC) last released its quarterly earnings results on Tuesday, July 30th. The energy company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Archrock had a net margin of 13.20% and a return on equity of 16.35%. The company had revenue of $270.53 million for the quarter, compared to analyst estimates of $270.61 million. As a group, equities research analysts anticipate that Archrock will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Archrock

Hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in Archrock in the second quarter valued at about $1,315,000. Point72 Asset Management L.P. acquired a new stake in Archrock in the second quarter valued at approximately $435,000. Quarry LP purchased a new stake in Archrock in the 2nd quarter worth $52,000. Creative Planning lifted its holdings in Archrock by 58.3% during the second quarter. Creative Planning now owns 22,998 shares of the energy company’s stock valued at $465,000 after purchasing an additional 8,468 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of 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 last quarter. Institutional investors own 95.45% of the company’s stock.

About Archrock

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.