Archrock (NYSE:AROC) Given New $40.00 Price Target at Royal Bank Of Canada

Archrock (NYSE:AROC) had its price objective upped by Royal Bank Of Canada from $32.00 to $40.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the energy company’s stock.

Several other brokerages have also issued reports on AROC. Raymond James Financial reaffirmed an “outperform” rating and set a $40.00 price target on shares of Archrock in a research note on Wednesday, February 25th. Stifel Nicolaus lifted their price objective on Archrock from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Zacks Research raised Archrock from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Wells Fargo & Company upped their target price on shares of Archrock from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wall Street Zen lowered shares of Archrock from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $38.14.

Archrock Stock Performance

AROC stock opened at $35.54 on Monday. 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 50 day moving average price of $31.18 and a 200 day moving average price of $27.13. Archrock has a fifty-two week low of $20.12 and a fifty-two week high of $37.26. The stock has a market capitalization of $6.22 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.44 and a beta of 0.87.

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

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Shareholders of record on Tuesday, February 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from Archrock’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.5%. Archrock’s payout ratio is currently 48.09%.

Insider Transactions at Archrock

In other news, CAO Donna A. Henderson sold 10,413 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $36.74, for a total transaction of $382,573.62. Following the completion of the transaction, the chief accounting officer directly owned 27,757 shares in the company, valued at approximately $1,019,792.18. The trade was a 27.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Archrock

A number of hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC grew its holdings in Archrock by 71.0% during the fourth quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after purchasing an additional 403 shares during the period. Ameriflex Group Inc. acquired a new stake in Archrock in the third quarter worth $27,000. Garton & Associates Financial Advisors LLC acquired a new stake in Archrock in the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB boosted its position in shares of Archrock by 164.5% during the third 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Archrock during the fourth quarter worth $33,000. 95.45% of the stock is currently 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.