Zacks Investment Research Upgrades Archrock (AROC) to Buy

Archrock (NYSE:AROC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $13.00 target price on the energy company’s stock. Zacks Investment Research‘s target price points to a potential upside of 5.26% from the stock’s current price.

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. “

Several other brokerages have also commented on AROC. JPMorgan Chase & Co. lowered Archrock from an “overweight” rating to a “neutral” rating and set a $13.00 price objective for the company. in a report on Tuesday, May 1st. FBR & Co boosted their price objective on Archrock from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, May 9th. B. Riley raised Archrock from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $14.00 in a report on Wednesday, May 9th. Finally, ValuEngine raised Archrock from a “strong sell” rating to a “sell” rating in a report on Monday, May 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Archrock presently has a consensus rating of “Hold” and a consensus price target of $13.83.

Archrock traded up $0.45, reaching $12.35, during mid-day trading on Tuesday, MarketBeat reports. 1,442,005 shares of the company traded hands, compared to its average volume of 1,823,773. The company has a quick ratio of 0.89, a current ratio of 1.48 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $867.66 million, a PE ratio of -61.75 and a beta of 2.89. Archrock has a 52-week low of $8.25 and a 52-week high of $13.01.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Thursday, May 3rd. The energy company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Archrock had a negative return on equity of 1.00% and a net margin of 3.28%. The business had revenue of $212.00 million for the quarter, compared to analysts’ expectations of $204.88 million. During the same period in the previous year, the firm posted ($0.11) EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities research analysts anticipate that Archrock will post 0.22 EPS for the current fiscal year.

In related news, insider Jason Ingersoll sold 12,969 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $11.64, for a total value of $150,959.16. Following the completion of the sale, the insider now owns 73,331 shares in the company, valued at approximately $853,572.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Edward Rice sold 67,554 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $11.70, for a total value of $790,381.80. Following the completion of the sale, the insider now owns 255,451 shares of the company’s stock, valued at approximately $2,988,776.70. The disclosure for this sale can be found here. Insiders own 2.54% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AROC. BlackRock Inc. lifted its position in Archrock by 0.7% in the first quarter. BlackRock Inc. now owns 10,080,035 shares of the energy company’s stock valued at $88,200,000 after purchasing an additional 74,927 shares during the last quarter. Millennium Management LLC lifted its position in Archrock by 570.2% in the first quarter. Millennium Management LLC now owns 2,176,905 shares of the energy company’s stock valued at $19,048,000 after purchasing an additional 1,852,114 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Archrock by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,910,893 shares of the energy company’s stock valued at $20,064,000 after purchasing an additional 95,150 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in Archrock by 8.0% in the fourth quarter. Thrivent Financial For Lutherans now owns 970,284 shares of the energy company’s stock valued at $10,188,000 after purchasing an additional 72,191 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Archrock by 2.1% in the first quarter. Northern Trust Corp now owns 883,244 shares of the energy company’s stock valued at $7,728,000 after purchasing an additional 17,761 shares during the last quarter. Institutional investors own 95.58% of the company’s stock.

Archrock Company Profile

Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.

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Analyst Recommendations for Archrock (NYSE:AROC)

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