Archrock (NYSE:AROC) Hits New 12-Month High – What’s Next?

Archrock, Inc. (NYSE:AROC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.10 and last traded at $29.96, with a volume of 2386 shares. The stock had previously closed at $29.73.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AROC shares. Royal Bank of Canada increased their price objective on Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Evercore ISI started coverage on Archrock in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price objective for the company. Citigroup started coverage on Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price objective for the company. Mizuho started coverage on Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on Archrock from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Archrock presently has a consensus rating of “Moderate Buy” and an average price target of $25.17.

Archrock Price Performance

The stock has a 50 day moving average price of $25.81 and a two-hundred day moving average price of $22.41. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The company has a market capitalization of $5.21 billion, a PE ratio of 32.69, a P/E/G ratio of 1.84 and a beta of 1.58.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. During the same period last year, the business earned $0.20 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. Equities analysts forecast that Archrock, Inc. will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in Archrock by 124.2% in the 3rd quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock valued at $6,125,000 after buying an additional 167,648 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Archrock in the 3rd quarter valued at approximately $314,000. JPMorgan Chase & Co. grew its holdings in Archrock by 94.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company’s stock valued at $8,549,000 after buying an additional 205,241 shares during the last quarter. Algert Global LLC grew its holdings in Archrock by 175.7% in the 2nd quarter. Algert Global LLC now owns 567,240 shares of the energy company’s stock valued at $11,470,000 after buying an additional 361,520 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in Archrock in the 3rd quarter valued at approximately $200,000. 95.45% of the stock is owned by institutional investors.

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.