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

Archrock, Inc. (NYSE:AROC) has been given an average rating of “Buy” by the six brokerages that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $22.33.

AROC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. assumed coverage on Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Archrock in a report on Wednesday, August 7th. 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 target on the stock. Citigroup initiated coverage on shares of Archrock in a research report on Friday. They set a “buy” rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus raised their price target on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th.

Archrock Price Performance

AROC stock opened at $20.39 on Wednesday. Archrock has a 12 month low of $11.73 and a 12 month high of $23.44. The stock has a market cap of $3.19 billion, a PE ratio of 24.57 and a beta of 1.51. The company has a 50-day moving average price of $19.92 and a 200 day moving average price of $19.96. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 1.80.

Archrock (NYSE:AROC) last posted its earnings results on Tuesday, July 30th. The energy company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Archrock had a net margin of 13.20% and a return on equity of 16.35%. The company had revenue of $270.53 million during the quarter, compared to analysts’ expectations of $270.61 million. Equities research analysts anticipate that Archrock will post 1.07 earnings per share for the current year.

Archrock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.24%. The ex-dividend date was Tuesday, August 6th. Archrock’s dividend payout ratio (DPR) is 79.52%.

Institutional Investors Weigh In On Archrock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AROC. Allspring Global Investments Holdings LLC acquired a new stake in Archrock in the 1st quarter valued at approximately $43,000. Quarry LP acquired a new position in Archrock in the 2nd quarter worth approximately $52,000. CWM LLC raised its stake in Archrock by 382.0% during the 2nd quarter. CWM LLC now owns 3,591 shares of the energy company’s stock valued at $73,000 after purchasing an additional 2,846 shares during the period. GAMMA Investing LLC grew its holdings in shares of Archrock by 16.6% during the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after buying an additional 578 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Archrock during the second quarter valued at $101,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

About Archrock

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.