Archrock (NYSE:AROC) Stock Price Expected to Rise, Citigroup Analyst Says

Archrock (NYSE:AROC) had its price target boosted by research analysts at Citigroup from $31.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Citigroup’s target price would indicate a potential upside of 8.67% from the company’s previous close.

A number of other equities research analysts also recently weighed in on AROC. Zacks Research raised shares of Archrock from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a report on Wednesday, January 21st. Dawson James restated an “outperform” rating on shares of Archrock in a report on Wednesday, February 25th. Raymond James Financial restated an “outperform” rating and issued a $40.00 price target on shares of Archrock in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company upped their price target on Archrock from $30.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $36.86.

Archrock Stock Performance

AROC opened at $36.81 on Monday. The business has a 50 day moving average price of $29.44 and a two-hundred day moving average price of $26.43. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.54 and a quick ratio of 0.99. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 1.53 and a beta of 0.87. Archrock has a 1-year low of $20.12 and a 1-year high of $36.94.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Tuesday, February 24th. The energy company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.29. Archrock had a return on equity of 23.57% and a net margin of 21.63%.The company had revenue of $377.07 million for the quarter, compared to the consensus estimate of $378.04 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts predict that Archrock will post 1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in Archrock by 0.7% during the first quarter. Royal Bank of Canada now owns 95,866 shares of the energy company’s stock valued at $2,514,000 after buying an additional 667 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Archrock by 217.9% in the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after purchasing an additional 902 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Archrock during the second quarter worth approximately $771,000. Teacher Retirement System of Texas boosted its holdings in shares of Archrock by 9.6% during the second quarter. Teacher Retirement System of Texas now owns 25,266 shares of the energy company’s stock worth $627,000 after purchasing an additional 2,215 shares during the period. Finally, Burney Co. purchased a new position in Archrock during the second quarter valued at approximately $681,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

About Archrock

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.