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 report issued on Tuesday. The firm presently has a $13.00 price target on the energy company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 5.26% from the stock’s previous close.

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 reports. ValuEngine upgraded Archrock from a “sell” rating to a “hold” rating in a research note on Tuesday, May 22nd. B. Riley lifted their target price on Archrock from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, May 22nd. JPMorgan Chase & Co. cut Archrock from an “overweight” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research note on Tuesday, May 1st. Finally, FBR & Co lifted their target price on Archrock from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, May 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.83.

Archrock traded up $0.45, hitting $12.35, during trading hours 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 current ratio of 1.48, a quick ratio of 0.89 and a debt-to-equity ratio of 1.93. Archrock has a one year low of $8.25 and a one year high of $13.01. The stock has a market cap of $867.66 million, a PE ratio of -61.75 and a beta of 2.89.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Thursday, May 3rd. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Archrock had a net margin of 3.28% and a negative return on equity of 1.00%. The company had revenue of $212.00 million for the quarter, compared to the consensus estimate of $204.88 million. During the same quarter last year, the business posted ($0.11) earnings per share. Archrock’s revenue was up 11.6% on a year-over-year basis. sell-side analysts forecast that Archrock will post 0.22 earnings per share for the current fiscal year.

In related news, insider Jason Ingersoll sold 12,969 shares of Archrock stock in a transaction dated 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 of the company’s stock, valued at approximately $853,572.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert Edward Rice sold 67,554 shares of Archrock stock in a transaction dated 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 directly 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. Company insiders own 2.54% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd grew its holdings in Archrock by 24.9% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 23,749 shares of the energy company’s stock valued at $208,000 after buying an additional 4,738 shares in the last quarter. Trexquant Investment LP grew its holdings in Archrock by 11.1% during the 1st quarter. Trexquant Investment LP now owns 66,355 shares of the energy company’s stock valued at $581,000 after buying an additional 6,647 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Archrock by 31.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 27,900 shares of the energy company’s stock valued at $293,000 after buying an additional 6,700 shares in the last quarter. ClariVest Asset Management LLC grew its holdings in Archrock by 2.8% during the 1st quarter. ClariVest Asset Management LLC now owns 245,244 shares of the energy company’s stock valued at $2,145,000 after buying an additional 6,777 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in Archrock during the 4th quarter valued at about $106,000. 95.58% of the stock is owned by institutional investors.

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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