Citigroup Forecasts Strong Price Appreciation for Archrock (NYSE:AROC) Stock

Archrock (NYSE:AROC) had its price target hoisted by investment analysts at Citigroup from $31.00 to $40.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Citigroup’s target price indicates a potential upside of 9.54% from the stock’s current price.

Other analysts also recently issued research reports about the company. Zacks Research upgraded Archrock from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research note on Wednesday, January 21st. Wall Street Zen raised Archrock from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company upped their price objective on shares of Archrock from $30.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Stifel Nicolaus raised their price target on shares of Archrock from $31.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $36.86.

Archrock Stock Up 3.4%

AROC stock traded up $1.19 on Monday, hitting $36.52. 1,097,731 shares of the company’s stock were exchanged, compared to its average volume of 1,590,306. The firm has a 50 day moving average price of $29.00 and a two-hundred day moving average price of $26.24. Archrock has a 12-month low of $20.12 and a 12-month high of $36.82. The stock has a market cap of $6.40 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 1.54.

Archrock (NYSE:AROC) last released its 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. Archrock had a net margin of 21.63% and a return on equity of 23.57%. The company had revenue of $377.07 million for the quarter, compared to the consensus estimate of $378.04 million. During the same quarter in the previous year, the firm earned $0.34 EPS. Archrock’s revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts expect that Archrock will post 1.09 EPS for the current fiscal year.

Institutional Trading of Archrock

Several hedge funds have recently made changes to their positions in AROC. Invesco Ltd. grew its stake in shares of Archrock by 1.4% in the second quarter. Invesco Ltd. now owns 9,080,037 shares of the energy company’s stock worth $225,457,000 after acquiring an additional 128,141 shares in the last quarter. State Street Corp grew its stake in Archrock by 2.2% during the 4th quarter. State Street Corp now owns 7,018,889 shares of the energy company’s stock worth $182,631,000 after purchasing an additional 152,312 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Archrock by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,833,290 shares of the energy company’s stock valued at $177,805,000 after buying an additional 111,218 shares during the period. American Century Companies Inc. grew its position in shares of Archrock by 3.3% during the third quarter. American Century Companies Inc. now owns 6,077,999 shares of the energy company’s stock worth $159,912,000 after buying an additional 191,914 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Archrock by 3.5% during the third quarter. Sei Investments Co. now owns 5,499,093 shares of the energy company’s stock worth $144,681,000 after buying an additional 187,252 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

About Archrock

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.