Royal Bank of Canada Reaffirms “Outperform” Rating for Archrock (NYSE:AROC)

Archrock (NYSE:AROC)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a report released on Wednesday, Benzinga reports. They currently have a $22.00 price objective on the energy company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 17.40% from the company’s current price.

Several other equities research analysts also recently commented on AROC. StockNews.com downgraded shares of Archrock from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Stifel Nicolaus upped their price objective on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th.

Archrock Stock Performance

Shares of NYSE:AROC traded up $0.01 during midday trading on Wednesday, reaching $18.74. The company had a trading volume of 572,087 shares, compared to its average volume of 1,511,671. The stock has a market cap of $3.17 billion, a P/E ratio of 22.61, a P/E/G ratio of 1.56 and a beta of 1.53. Archrock has a 52-week low of $11.73 and a 52-week high of $23.44. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The company’s 50 day moving average price is $20.27 and its 200 day moving average price is $19.31.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AROC. Raymond James & Associates increased its position in shares of Archrock by 84.3% in the fourth quarter. Raymond James & Associates now owns 142,510 shares of the energy company’s stock worth $2,195,000 after purchasing an additional 65,185 shares during the last quarter. Arizona State Retirement System increased its position in shares of Archrock by 3.5% in the fourth quarter. Arizona State Retirement System now owns 41,562 shares of the energy company’s stock worth $640,000 after purchasing an additional 1,408 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Archrock in the fourth quarter worth approximately $4,830,000. Toth Financial Advisory Corp bought a new position in shares of Archrock in the fourth quarter worth approximately $527,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Archrock in the fourth quarter worth approximately $1,058,000. 95.45% of the stock is currently owned by 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.