Archrock (NYSE:AROC) Raised to “Hold” at Sidoti

Archrock (NYSE:AROC) was upgraded by Sidoti to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Separately, Citigroup boosted their price objective on Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Archrock has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Archrock Stock Performance

NYSE AROC opened at $24.33 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Archrock has a twelve month low of $17.27 and a twelve month high of $30.44. The stock has a 50-day moving average of $24.37 and a 200 day moving average of $25.17. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.60 and a beta of 1.19.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Monday, May 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $347.16 million for the quarter, compared to the consensus estimate of $342.98 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. Sell-side analysts anticipate that Archrock will post 1.09 EPS for the current fiscal year.

Archrock declared that its board has authorized a stock repurchase plan on Monday, May 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the energy company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Archrock

A number of hedge funds and other institutional investors have recently made changes to their positions in AROC. Atria Investments Inc increased its stake in Archrock by 17.4% during the fourth quarter. Atria Investments Inc now owns 38,313 shares of the energy company’s stock worth $954,000 after acquiring an additional 5,665 shares during the last quarter. Barclays PLC boosted its position in Archrock by 124.2% in the 3rd quarter. Barclays PLC now owns 302,610 shares of the energy company’s stock valued at $6,125,000 after buying an additional 167,648 shares during the period. JPMorgan Chase & Co. grew its stake in Archrock by 94.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 422,383 shares of the energy company’s stock worth $8,549,000 after purchasing an additional 205,241 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Archrock in the 4th quarter valued at about $242,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Archrock by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,358,092 shares of the energy company’s stock valued at $58,693,000 after buying an additional 34,272 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

About Archrock

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.