Archrock (AROC) Reaches New 52-Week Low at $8.22

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Archrock Inc (NYSE:AROC) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.22 and last traded at $8.23, with a volume of 925465 shares. The stock had previously closed at $8.39.

Several brokerages have recently issued reports on AROC. Zacks Investment Research upgraded shares of Archrock from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, October 25th. ValuEngine lowered shares of Archrock from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. B. Riley set a $16.00 price target on shares of Archrock and gave the stock a “buy” rating in a research note on Sunday, October 7th. Finally, Piper Jaffray Companies set a $14.00 price target on shares of Archrock and gave the stock a “buy” rating in a research note on Thursday, October 18th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $14.33.

The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.98 and a current ratio of 1.46. The firm has a market cap of $1.09 billion, a P/E ratio of -41.15 and a beta of 2.80.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Wednesday, October 31st. The energy company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Archrock had a net margin of 6.32% and a return on equity of 2.49%. The company had revenue of $232.37 million during the quarter, compared to the consensus estimate of $226.19 million. During the same period in the previous year, the firm posted ($0.09) EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts anticipate that Archrock Inc will post 0.36 EPS for the current year.

In other Archrock news, insider Doug S. Aron bought 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The shares were bought at an average price of $8.81 per share, for a total transaction of $70,480.00. Following the transaction, the insider now directly owns 64,715 shares in the company, valued at $570,139.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO D Bradley Childers bought 10,810 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The stock was acquired at an average price of $9.05 per share, for a total transaction of $97,830.50. Following the transaction, the chief executive officer now owns 941,959 shares in the company, valued at $8,524,728.95. The disclosure for this purchase can be found here. Insiders have bought a total of 26,310 shares of company stock valued at $242,636 over the last ninety days. 2.54% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Archrock by 332.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,503 shares of the energy company’s stock worth $102,000 after purchasing an additional 6,539 shares during the period. Stevens Capital Management LP purchased a new position in Archrock in the 3rd quarter worth $127,000. Meadow Creek Investment Management LLC raised its position in Archrock by 90.0% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 12,224 shares of the energy company’s stock worth $147,000 after purchasing an additional 5,792 shares during the period. Verition Fund Management LLC purchased a new position in Archrock in the 2nd quarter worth $160,000. Finally, Meeder Asset Management Inc. raised its position in Archrock by 1,317.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 13,278 shares of the energy company’s stock worth $161,000 after purchasing an additional 12,341 shares during the period. Institutional investors own 87.94% of the company’s stock.

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Archrock Company Profile (NYSE:AROC)

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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