Brokerages Set Archrock, Inc. (NYSE:AROC) PT at $36.86

Archrock, Inc. (NYSE:AROC) has received an average rating of “Buy” from the eleven brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $36.8571.

AROC has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Archrock from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Citigroup lifted their target price on shares of Archrock from $31.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Archrock in a research note on Wednesday, January 21st. Dawson James restated an “outperform” rating on shares of Archrock in a research report on Wednesday, February 25th. Finally, Zacks Research raised shares of Archrock from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd.

Archrock Stock Down 1.2%

Archrock stock opened at $35.37 on Wednesday. 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 stock has a market capitalization of $6.19 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.87. The business has a 50 day simple moving average of $30.06 and a 200-day simple moving average of $26.64. Archrock has a 12 month low of $20.12 and a 12 month high of $37.26.

Archrock (NYSE:AROC) last announced its earnings results on Tuesday, February 24th. The energy company reported $0.69 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $377.07 million for the quarter, compared to analyst estimates of $378.04 million. During the same quarter last year, the firm posted $0.34 EPS. The business’s revenue was up 15.5% on a year-over-year basis. On average, analysts anticipate that Archrock will post 1.09 EPS for the current fiscal year.

Archrock Increases Dividend

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

Insider Activity

In other news, CAO Donna A. Henderson sold 10,413 shares of Archrock 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 sale, the chief accounting officer directly owned 27,757 shares of the company’s stock, valued at $1,019,792.18. The trade was a 27.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AROC. Sound Income Strategies LLC lifted 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 purchasing an additional 403 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Archrock during the third quarter worth $27,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Archrock during the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB raised 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 buying an additional 673 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired 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.

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.