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

Archrock, Inc. (NYSE:AROC) has been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $30.00.

Several research analysts have issued reports on the company. Evercore ISI cut their price target on Archrock from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Mizuho lifted their price target on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a report on Wednesday, October 8th. Wells Fargo & Company started coverage on Archrock in a research report on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th.

Insider Activity at Archrock

In related news, SVP Eric W. Thode sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the sale, the senior vice president owned 224,809 shares in the company, valued at $5,292,003.86. This represents a 4.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jason C. Rebrook purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was bought at an average price of $24.17 per share, for a total transaction of $241,700.00. Following the purchase, the director directly owned 74,511 shares in the company, valued at $1,800,930.87. The trade was a 15.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC purchased a new position in shares of Archrock in the 3rd quarter worth $222,000. Evergreen Capital Management LLC raised its holdings in Archrock by 27.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 12,662 shares of the energy company’s stock worth $333,000 after purchasing an additional 2,755 shares during the period. Nations Financial Group Inc. IA ADV raised its holdings in Archrock by 10.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 18,329 shares of the energy company’s stock worth $482,000 after purchasing an additional 1,799 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in Archrock by 164.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock worth $28,000 after purchasing an additional 673 shares during the period. Finally, Bernzott Capital Advisors raised its holdings in Archrock by 62.3% in the 3rd quarter. Bernzott Capital Advisors now owns 291,534 shares of the energy company’s stock worth $7,670,000 after purchasing an additional 111,908 shares during the period. 95.45% of the stock is owned by institutional investors.

Archrock Price Performance

Archrock stock opened at $24.96 on Thursday. The company has a market capitalization of $4.39 billion, a PE ratio of 16.64, a P/E/G ratio of 1.32 and a beta of 1.07. The stock has a 50-day moving average price of $24.87 and a two-hundred day moving average price of $24.45. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86. Archrock has a 12 month low of $19.73 and a 12 month high of $30.44.

Archrock (NYSE:AROC) last released its earnings results on Tuesday, October 28th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Archrock had a return on equity of 20.40% and a net margin of 18.43%.The business had revenue of $382.43 million during the quarter, compared to analysts’ expectations of $379.29 million. During the same quarter last year, the firm posted $0.28 earnings per share. The firm’s revenue was up 30.9% on a year-over-year basis. Analysts expect that Archrock will post 1.09 EPS for the current year.

Archrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Tuesday, November 4th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. Archrock’s dividend payout ratio is currently 63.64%.

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.