Archrock, Inc. (NYSE:AROC) Given Consensus Rating of “Buy” by Analysts

Shares of Archrock, Inc. (NYSE:AROC) have been assigned a consensus rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $24.67.

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Mizuho assumed coverage on shares of Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 target price on the stock. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price target for the company. Citigroup started coverage on Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price target on the stock. Finally, JPMorgan Chase & Co. began coverage on Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective for the company.

Archrock Stock Down 0.9 %

Archrock stock opened at $24.32 on Thursday. The firm has a 50 day simple moving average of $21.15 and a 200 day simple moving average of $20.41. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Archrock has a 1-year low of $13.95 and a 1-year high of $24.71. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 26.72 and a beta of 1.52.

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. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The company had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, analysts predict that Archrock will post 1.09 earnings per share for the current year.

Archrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were given a $0.175 dividend. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a yield of 2.88%. Archrock’s payout ratio is presently 76.92%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. bought a new stake in shares of Archrock in the 3rd quarter valued at about $28,000. Wolff Wiese Magana LLC bought a new stake in Archrock in the third quarter valued at approximately $30,000. Continuum Advisory LLC grew its holdings in shares of Archrock by 5,621.6% in the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after purchasing an additional 2,080 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Archrock in the first quarter worth $43,000. Finally, Millburn Ridgefield Corp bought a new stake in Archrock during the 3rd quarter valued at $50,000. 95.45% of the stock is currently owned by institutional investors.

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.