Analysts Set Archrock, Inc. (NYSE:AROC) Price Target at $30.00

Shares of Archrock, Inc. (NYSE:AROC) have been given a consensus rating of “Buy” by the nine research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $31.50.

AROC has been the topic of several analyst reports. Mizuho raised their price objective on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Royal Bank Of Canada raised their price objective on Archrock from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Zacks Research upgraded Archrock from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Archrock in a report on Wednesday, October 8th. Finally, Wells Fargo & Company began coverage on Archrock in a report on Wednesday, September 3rd. They issued an “overweight” rating and a $30.00 target price on the stock.

Archrock Price Performance

AROC stock opened at $25.64 on Thursday. Archrock has a 52-week low of $19.93 and a 52-week high of $30.44. The stock’s fifty day simple moving average is $24.91 and its 200-day simple moving average is $24.49. The company has a quick ratio of 1.30, a current ratio of 1.81 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Tuesday, October 28th. The energy company reported $0.42 earnings per share (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 for the quarter, compared to analysts’ expectations of $379.29 million. During the same quarter last year, the firm earned $0.28 earnings per share. The business’s revenue was up 30.9% on a year-over-year basis. Equities research 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. Investors of record on Tuesday, November 4th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. Archrock’s dividend payout ratio (DPR) is presently 56.00%.

Insider Transactions at Archrock

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total transaction of $235,400.00. Following the transaction, the senior vice president owned 224,809 shares in the company, valued at $5,292,003.86. The trade was a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jason C. Rebrook bought 10,000 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were acquired at an average cost of $24.17 per share, for a total transaction of $241,700.00. Following the completion of the transaction, the director owned 74,511 shares of the company’s stock, valued at approximately $1,800,930.87. The trade was a 15.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

Institutional Trading of Archrock

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vident Advisory LLC increased its holdings in Archrock by 4.9% in the first quarter. Vident Advisory LLC now owns 9,032 shares of the energy company’s stock valued at $237,000 after buying an additional 420 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Archrock by 0.8% during the third quarter. Nisa Investment Advisors LLC now owns 60,026 shares of the energy company’s stock valued at $1,579,000 after purchasing an additional 478 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Archrock by 3.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 15,247 shares of the energy company’s stock worth $379,000 after buying an additional 490 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Archrock by 1.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 38,161 shares of the energy company’s stock worth $1,001,000 after buying an additional 521 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Archrock by 49.9% in the third quarter. Farther Finance Advisors LLC now owns 1,640 shares of the energy company’s stock worth $43,000 after purchasing an additional 546 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

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.