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 Monday. The brokerage presently has a $9.75 price objective on the energy company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.77% from the company’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. “

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AROC has been the subject of several other reports. ValuEngine downgraded Archrock from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Capital One Financial upgraded Archrock from an “equal weight” rating to an “overweight” rating in a report on Friday, February 23rd. JPMorgan Chase raised Archrock from a “neutral” rating to an “overweight” rating and set a $13.00 price objective for the company in a research report on Thursday, March 22nd. Piper Jaffray raised Archrock from a “neutral” rating to an “overweight” rating in a research report on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $14.00 price objective on shares of Archrock in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.79.

Shares of Archrock stock traded down $0.40 during trading hours on Monday, hitting $8.35. The company’s stock had a trading volume of 1,190,410 shares, compared to its average volume of 1,148,587. Archrock has a 12 month low of $8.30 and a 12 month high of $13.65. The company has a market capitalization of $620.80, a P/E ratio of -41.75 and a beta of 2.91. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.69 and a quick ratio of 1.00.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.07. Archrock had a negative return on equity of 2.31% and a net margin of 2.39%. The company had revenue of $208.90 million during the quarter, compared to the consensus estimate of $200.88 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts anticipate that Archrock will post 0.19 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of AROC. Crossmark Global Holdings Inc. acquired a new position in shares of Archrock during the third quarter worth about $168,000. BNP Paribas Arbitrage SA boosted its position in Archrock by 71.3% during the third quarter. BNP Paribas Arbitrage SA now owns 39,544 shares of the energy company’s stock valued at $496,000 after purchasing an additional 16,462 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Archrock by 59.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 26,630 shares of the energy company’s stock valued at $334,000 after purchasing an additional 9,980 shares during the last quarter. Macquarie Group Ltd. acquired a new position in Archrock during the third quarter valued at approximately $688,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Archrock during the third quarter valued at approximately $185,000. 91.83% of the stock is owned by institutional investors.

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Archrock Company Profile

Archrock, Inc engages in the provision of operations, maintenance, service, and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services segments. The Contract Operations segment is comprised of equity investment in the partnership, in addition to the owned fleet of natural gas compression equipment that the company use to provide operations services.

Analyst Recommendations for Archrock (NYSE:AROC)

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