Royal Bank Of Canada Boosts Archrock (NYSE:AROC) Price Target to $40.00

Archrock (NYSE:AROC) had its price objective lifted by stock analysts at Royal Bank Of Canada from $32.00 to $40.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the energy company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 15.54% from the company’s previous close.

AROC has been the topic of a number of other reports. Raymond James Financial restated an “outperform” rating and set a $40.00 target price on shares of Archrock in a research note on Wednesday, February 25th. Citigroup lifted their price target on shares of Archrock from $31.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Wells Fargo & Company increased their price objective on shares of Archrock from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday. Wall Street Zen lowered shares of Archrock from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Stifel Nicolaus boosted their target price on shares of Archrock from $31.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Archrock presently has an average rating of “Buy” and an average price target of $38.14.

Archrock Trading Down 1.3%

AROC opened at $34.62 on Monday. Archrock has a 12 month low of $20.12 and a 12 month high of $37.26. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.44 and a beta of 0.87. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.54 and a quick ratio of 0.99. The business has a fifty day moving average price of $31.00 and a 200 day moving average price of $27.06.

Archrock (NYSE:AROC) last issued its quarterly earnings results on Tuesday, February 24th. The energy company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.29. The company had revenue of $377.07 million for the quarter, compared to the consensus estimate of $378.04 million. Archrock had a return on equity of 23.57% and a net margin of 21.63%.Archrock’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. Sell-side analysts expect that Archrock will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Archrock news, CAO Donna A. Henderson sold 10,413 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $36.74, for a total transaction of $382,573.62. Following the sale, the chief accounting officer owned 27,757 shares of the company’s stock, valued at approximately $1,019,792.18. This trade represents a 27.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AROC. Sound Income Strategies LLC lifted its position in Archrock by 71.0% in the fourth quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock valued at $26,000 after acquiring an additional 403 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Archrock during the 3rd quarter worth approximately $27,000. Garton & Associates Financial Advisors LLC acquired a new position in Archrock during the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB raised its position in Archrock by 164.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,082 shares of the energy company’s stock valued at $28,000 after purchasing an additional 673 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Archrock during the 4th quarter worth $33,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Archrock Company Profile

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.