Royal Bank of Canada Increases Archrock (NYSE:AROC) Price Target to $27.00

Archrock (NYSE:AROC) had its price objective raised by Royal Bank of Canada from $26.00 to $27.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 16.78% from the company’s current price.

A number of other analysts have also recently weighed in on AROC. Mizuho assumed coverage on Archrock in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price target on the stock. Citigroup began coverage on shares of Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 target price on the stock. Evercore ISI assumed coverage on shares of Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price target for the company. Stifel Nicolaus upped their price objective on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Archrock in a research note on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

Archrock Stock Performance

Shares of NYSE:AROC traded down $0.54 on Thursday, hitting $23.12. 354,312 shares of the company were exchanged, compared to its average volume of 1,423,770. The company’s 50 day moving average price is $20.76 and its two-hundred day moving average price is $20.29. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 25.41 and a beta of 1.52. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. Archrock has a one year low of $13.89 and a one year high of $24.71.

Archrock (NYSE:AROC) last released its quarterly earnings data 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. Archrock had a return on equity of 18.12% and a net margin of 13.34%. The business had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. During the same period in the previous year, the business posted $0.20 earnings per share. Archrock’s quarterly revenue was up 15.3% on a year-over-year basis. Research analysts expect that Archrock will post 1.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in shares of Archrock during the third quarter valued at $28,000. Wolff Wiese Magana LLC bought a new position in shares of Archrock in the 3rd quarter valued at about $30,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Archrock during the 1st quarter worth approximately $43,000. Quarry LP bought a new stake in shares of Archrock during the second quarter worth approximately $52,000. Finally, CWM LLC raised its stake in shares of Archrock by 382.0% during the second quarter. CWM LLC now owns 3,591 shares of the energy company’s stock worth $73,000 after buying an additional 2,846 shares during the last quarter. 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.