ERock, Inc. (NYSE:EROC) Given Consensus Recommendation of “Buy” by Analysts

ERock, Inc. (NYSE:EROC) has earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $22.8750.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of ERock in a research report on Monday, July 6th. They issued an “overweight” rating and a $24.00 price objective for the company. BNP Paribas Exane set a $22.00 target price on shares of ERock and gave the company an “outperform” rating in a report on Monday, July 6th. Barclays began coverage on shares of ERock in a research report on Monday, July 6th. They set an “overweight” rating and a $23.00 price target for the company. Evercore initiated coverage on ERock in a report on Monday, July 6th. They issued an “outperform” rating and a $28.00 price target for the company. Finally, Wolfe Research initiated coverage on ERock in a research report on Monday, July 6th. They issued an “outperform” rating and a $24.00 price objective on the stock.

ERock Price Performance

Shares of NYSE:EROC opened at $13.25 on Tuesday. The business’s 50-day moving average price is $13.21. ERock has a 1 year low of $8.88 and a 1 year high of $20.70.

ERock (NYSE:EROC) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.25. The business had revenue of $39.88 million during the quarter, compared to analysts’ expectations of $26.45 million. As a group, sell-side analysts forecast that ERock will post -0.3 EPS for the current year.

Institutional Investors Weigh In On ERock

A number of large investors have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP purchased a new stake in shares of ERock during the 2nd quarter valued at about $710,000. Wellington Management Group LLP purchased a new position in ERock in the 2nd quarter worth approximately $7,228,000. Value Aligned Research Advisors LLC purchased a new position in ERock in the 2nd quarter worth approximately $19,516,000. Finally, Readystate Asset Management LP acquired a new stake in ERock in the second quarter valued at approximately $725,000.

About ERock

ERock Inc provide onsite power solutions. ERock Inc is based in HOUSTON.