Archrock, Inc. (AROC) Rating Lowered to Buy at BidaskClub

Archrock, Inc. (NYSE:AROC) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

AROC has been the subject of a number of other research reports. Capital One Financial Corporation downgraded shares of Archrock from an “overweight” rating to an “equal weight” rating in a research report on Friday, June 23rd. Royal Bank Of Canada upgraded shares of Archrock from a “sector perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research report on Monday, August 21st. J P Morgan Chase & Co restated a “neutral” rating and set a $12.00 price objective (down previously from $13.00) on shares of Archrock in a research report on Tuesday, August 8th. Scotiabank set a $15.00 price objective on shares of Archrock and gave the stock a “hold” rating in a research report on Tuesday, June 20th. Finally, FBR & Co restated a “market perform” rating and set a $12.00 price objective (up previously from $11.00) on shares of Archrock in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $13.46.

Archrock (AROC) opened at 12.35 on Wednesday. The firm has a 50-day moving average of $11.61 and a 200-day moving average of $11.29. The stock’s market cap is $876.10 million. Archrock has a 12-month low of $8.30 and a 12-month high of $16.40.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.08. The company had revenue of $198.00 million during the quarter, compared to the consensus estimate of $196.00 million. Archrock had a negative net margin of 8.57% and a negative return on equity of 3.44%. The company’s revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Archrock will post ($0.20) earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Archrock by 32.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 293,213 shares of the energy company’s stock valued at $3,344,000 after purchasing an additional 72,202 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Archrock by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 8,047,378 shares of the energy company’s stock valued at $99,787,000 after purchasing an additional 868,015 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Archrock by 127.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,002,314 shares of the energy company’s stock valued at $11,427,000 after purchasing an additional 561,671 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Archrock by 15.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 799,525 shares of the energy company’s stock valued at $9,915,000 after purchasing an additional 107,343 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Archrock by 312.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 215,426 shares of the energy company’s stock valued at $2,456,000 after purchasing an additional 163,149 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

Archrock Company Profile

Archrock, Inc is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.

Analyst Recommendations for Archrock (NYSE:AROC)

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