Archrock (AROC) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Archrock (NYSE:AROC) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $13.00 price target on the energy company’s stock.

According to Zacks, “Archrock, Inc. is a provider of natural gas contract compression services as well as supplier of aftermarket services of compression equipment. The company operates in the oil and gas producing regions primarily in the United States. Archrock, Inc., formerly known as Exterran Holdings, Inc., is based in Houston, United States. “

AROC has been the topic of a number of other reports. ValuEngine lowered Archrock from a hold rating to a sell rating in a research report on Wednesday, June 13th. B. Riley boosted their target price on Archrock from $14.00 to $15.00 and gave the stock a buy rating in a research report on Tuesday, May 22nd. JPMorgan Chase & Co. raised Archrock from a neutral rating to an overweight rating and set a $13.00 price target on the stock in a research report on Thursday, March 22nd. Finally, FBR & Co upped their price target on Archrock from $12.00 to $14.00 and gave the company a buy rating in a research report on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $13.83.

Shares of Archrock opened at $11.95 on Tuesday, Marketbeat Ratings reports. The firm has a market cap of $867.66 million, a PE ratio of -59.75 and a beta of 2.89. The company has a current ratio of 1.48, a quick ratio of 0.89 and a debt-to-equity ratio of 1.93. Archrock has a 12-month low of $8.25 and a 12-month high of $13.01.

Archrock (NYSE:AROC) last announced its earnings results on Thursday, May 3rd. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $212.00 million for the quarter, compared to analyst estimates of $204.88 million. Archrock had a negative return on equity of 1.00% and a net margin of 3.28%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share. equities research analysts predict that Archrock will post 0.22 EPS for the current fiscal year.

In other Archrock news, insider Jason Ingersoll sold 12,969 shares of the company’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $11.64, for a total value of $150,959.16. Following the transaction, the insider now directly owns 73,331 shares of the company’s stock, valued at approximately $853,572.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Robert Edward Rice sold 67,554 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $11.70, for a total value of $790,381.80. Following the completion of the transaction, the insider now directly owns 255,451 shares in the company, valued at $2,988,776.70. The disclosure for this sale can be found here. 2.54% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AROC. Millennium Management LLC boosted its stake in shares of Archrock by 570.2% during the 1st quarter. Millennium Management LLC now owns 2,176,905 shares of the energy company’s stock worth $19,048,000 after acquiring an additional 1,852,114 shares in the last quarter. Earnest Partners LLC bought a new stake in shares of Archrock during the 1st quarter worth about $6,465,000. Russell Investments Group Ltd. boosted its stake in shares of Archrock by 286.6% during the 1st quarter. Russell Investments Group Ltd. now owns 670,438 shares of the energy company’s stock worth $5,857,000 after acquiring an additional 497,007 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Archrock by 105.4% during the 1st quarter. American Century Companies Inc. now owns 546,119 shares of the energy company’s stock worth $4,779,000 after acquiring an additional 280,199 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Archrock by 560.7% during the 1st quarter. GSA Capital Partners LLP now owns 242,175 shares of the energy company’s stock worth $2,119,000 after acquiring an additional 205,522 shares in the last quarter. Institutional investors own 95.58% of the company’s stock.

About Archrock

Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.

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