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

Shares of Archrock, Inc. (NYSE:AROC) have been assigned an average rating of “Buy” from the six research firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $25.17.

A number of equities research analysts recently weighed in on AROC shares. Royal Bank of Canada boosted their price objective on shares of Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Mizuho started coverage on shares of Archrock in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $24.00 price objective for the company. Citigroup started coverage on shares of Archrock in a research report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. Evercore ISI began coverage on shares of Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th.

Archrock Price Performance

AROC opened at $25.33 on Friday. The company has a 50-day moving average of $24.51 and a 200-day moving average of $21.82. The company has a market capitalization of $4.44 billion, a P/E ratio of 27.84 and a beta of 1.58. Archrock has a 1-year low of $14.39 and a 1-year high of $27.05. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The business had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts expect that Archrock will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were paid a $0.175 dividend. This is a positive change from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock’s dividend payout ratio is currently 76.92%.

Institutional Trading of Archrock

Institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. acquired a new stake in shares of Archrock in the 3rd quarter worth approximately $28,000. Wolff Wiese Magana LLC acquired a new stake in shares of Archrock in the 3rd quarter worth approximately $30,000. Continuum Advisory LLC lifted its stake in shares of Archrock by 5,621.6% in the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after acquiring an additional 2,080 shares during the period. Millburn Ridgefield Corp acquired a new stake in shares of Archrock in the 3rd quarter worth approximately $50,000. Finally, Quarry LP acquired a new stake in shares of Archrock in the 2nd quarter worth approximately $52,000. 95.45% of the stock is 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.