Wells Fargo & Company Boosts Archrock (NYSE:AROC) Price Target to $40.00

Archrock (NYSE:AROC) had its target price increased by equities research analysts at Wells Fargo & Company from $39.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 15.54% from the company’s previous close.

A number of other research firms also recently issued reports on AROC. Zacks Research upgraded shares of Archrock from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Dawson James reaffirmed an “outperform” rating on shares of Archrock in a research report on Wednesday, February 25th. Wall Street Zen lowered shares of Archrock from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Stifel Nicolaus boosted their price target on shares of Archrock from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $37.00.

Archrock Stock Down 1.3%

Shares of Archrock stock opened at $34.62 on Friday. The business’s 50 day simple moving average is $31.00 and its 200 day simple moving average is $27.04. Archrock has a 52-week low of $20.12 and a 52-week high of $37.26. The firm has a market cap of $6.06 billion, a PE ratio of 18.92, a P/E/G ratio of 1.44 and a beta of 0.87. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 1.54.

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

Insider Transactions at Archrock

In other news, CAO Donna A. Henderson sold 10,413 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $36.74, for a total value of $382,573.62. Following the completion of the sale, the chief accounting officer directly owned 27,757 shares of the company’s stock, valued at $1,019,792.18. This trade represents a 27.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AROC. Sound Income Strategies LLC grew its holdings in Archrock by 71.0% in the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after buying an additional 403 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Archrock during the third quarter worth $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Archrock during the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB boosted its position in shares of Archrock by 164.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock valued at $28,000 after acquiring an additional 673 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Archrock in the fourth quarter valued at about $33,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Archrock Company Profile

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.