Archrock, Inc. (NYSE:AROC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Friday.
According to Zacks, “Archrock, Inc. is a provider of natural gas contract compression services as well as supplier of aftermarket services of compression equipment. The company operates in the oil and gas producing regions primarily in the United States. Archrock, Inc., formerly known as Exterran Holdings, Inc., is based in Houston, United States. “
AROC has been the topic of a number of other research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $13.00 price target on shares of Archrock in a research report on Wednesday, September 27th. BidaskClub upgraded Archrock from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. FBR & Co reiterated a “market perform” rating and set a $12.00 price target (up previously from $11.00) on shares of Archrock in a research report on Thursday, August 3rd. Scotiabank set a $15.00 price target on Archrock and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $12.00 price target (down previously from $13.00) on shares of Archrock in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $13.29.
Archrock (AROC) opened at $10.50 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.63 and a debt-to-equity ratio of 1.99. Archrock has a 1 year low of $8.30 and a 1 year high of $16.40.
Archrock (NYSE:AROC) last issued its quarterly earnings results on Thursday, November 2nd. The energy company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $197.85 million for the quarter, compared to analysts’ expectations of $202.34 million. Archrock had a negative return on equity of 2.93% and a negative net margin of 8.62%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. research analysts anticipate that Archrock will post -0.23 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in AROC. Pacad Investment Ltd. lifted its position in shares of Archrock by 6.0% in the second quarter. Pacad Investment Ltd. now owns 8,900 shares of the energy company’s stock valued at $101,000 after acquiring an additional 500 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Archrock in the third quarter valued at approximately $131,000. State of Alaska Department of Revenue lifted its position in shares of Archrock by 79.8% in the second quarter. State of Alaska Department of Revenue now owns 14,008 shares of the energy company’s stock valued at $159,000 after acquiring an additional 6,218 shares in the last quarter. Nine Chapters Capital Management LLC purchased a new position in shares of Archrock in the third quarter valued at approximately $161,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Archrock in the third quarter valued at approximately $168,000. Institutional investors and hedge funds own 92.55% of the company’s stock.
Archrock, Inc is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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