Archrock (NYSE:AROC) Hits New 12-Month High – Should You Buy?

Archrock, Inc. (NYSE:AROC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $30.10 and last traded at $29.96, with a volume of 2386 shares changing hands. The stock had previously closed at $29.73.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AROC shares. Citigroup began coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Mizuho assumed coverage on Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 target price on the stock. Royal Bank of Canada upped their price target on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Evercore ISI initiated coverage on Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.17.

Archrock Trading Up 1.0 %

The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.58. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average price of $25.57 and a 200-day moving average price of $22.28.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. During the same quarter last year, the company earned $0.20 earnings per share. Archrock’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, research analysts expect that Archrock, Inc. will post 1.12 EPS for the current fiscal year.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were issued a $0.175 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a yield of 2.33%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is currently 76.92%.

Institutional Trading of Archrock

Several large investors have recently modified their holdings of AROC. B. Riley Wealth Advisors Inc. lifted its stake in shares of Archrock by 0.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 50,654 shares of the energy company’s stock worth $1,025,000 after acquiring an additional 427 shares in the last quarter. Atria Investments Inc raised its position in shares of Archrock by 2.3% in the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock valued at $661,000 after purchasing an additional 746 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Archrock by 1.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 48,091 shares of the energy company’s stock valued at $1,197,000 after buying an additional 796 shares during the last quarter. Glenmede Trust Co. NA grew its position in shares of Archrock by 2.7% during the third quarter. Glenmede Trust Co. NA now owns 31,485 shares of the energy company’s stock worth $637,000 after buying an additional 838 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Archrock by 23.6% in the third quarter. KBC Group NV now owns 5,324 shares of the energy company’s stock worth $108,000 after buying an additional 1,016 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.