Archrock (NYSE:AROC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Archrock (NYSE:AROC) had its price target increased by research analysts at JPMorgan Chase & Co. from $25.00 to $27.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 5.43% from the stock’s current price.

A number of other brokerages also recently issued reports on AROC. Evercore ISI initiated coverage on Archrock in a research note on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective for the company. Citigroup started coverage on Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price target on the stock. Mizuho started coverage on Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Royal Bank of Canada boosted their price target on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Archrock currently has an average rating of “Moderate Buy” and a consensus target price of $25.17.

Archrock Stock Performance

Shares of Archrock stock traded up $0.69 during trading hours on Friday, reaching $25.61. 138,144 shares of the stock traded hands, compared to its average volume of 1,415,544. The company has a 50 day moving average price of $21.91 and a 200 day moving average price of $20.65. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 28.04 and a beta of 1.52. Archrock has a one year low of $14.14 and a one year high of $26.36. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last released its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. On average, equities research analysts expect that Archrock will post 1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archrock

A number of hedge funds and other institutional investors have recently made changes to their positions in AROC. Brown Brothers Harriman & Co. purchased a new stake in shares of Archrock during the 3rd quarter worth $28,000. Wolff Wiese Magana LLC purchased a new stake in shares of Archrock during the 3rd quarter worth $30,000. Continuum Advisory LLC lifted its stake in shares of Archrock by 5,621.6% during the 3rd quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company’s stock worth $43,000 after purchasing an additional 2,080 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Archrock during the 3rd quarter worth $50,000. Finally, Quarry LP purchased a new stake in shares of Archrock during the 2nd quarter worth $52,000. Institutional investors own 95.45% of the company’s stock.

Archrock Company Profile

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.