Archrock’s (AROC) “Hold” Rating Reaffirmed at Scotiabank
Archrock, Inc. (NYSE:AROC)‘s stock had its “hold” rating restated by analysts at Scotiabank in a research report issued on Friday. They presently have a $14.00 price objective on the energy company’s stock. Scotiabank’s price target would suggest a potential upside of 29.03% from the company’s current price.
A number of other analysts also recently issued reports on AROC. BidaskClub raised shares of Archrock from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded shares of Archrock from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. FBR & Co reissued a “market perform” rating and set a $12.00 price target (up from $11.00) on shares of Archrock in a report on Thursday, August 3rd. J P Morgan Chase & Co reissued a “neutral” rating and set a $12.00 price target (down from $13.00) on shares of Archrock in a report on Tuesday, August 8th. Finally, ValuEngine cut shares of Archrock from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.29.
Archrock (AROC) opened at $10.85 on Friday. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.79 and a quick ratio of 1.00.
Archrock (NYSE:AROC) last released its quarterly earnings data on Thursday, November 2nd. The energy company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Archrock had a negative net margin of 8.62% and a negative return on equity of 2.96%. The business had revenue of $197.85 million during the quarter, compared to analysts’ expectations of $202.34 million. During the same period last year, the company earned $0.01 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. equities research analysts predict that Archrock will post 0.05 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of AROC. Pacad Investment Ltd. raised its position in shares of Archrock by 6.0% in the second quarter. Pacad Investment Ltd. now owns 8,900 shares of the energy company’s stock valued at $101,000 after buying an additional 500 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Archrock by 79.8% in the second quarter. State of Alaska Department of Revenue now owns 14,008 shares of the energy company’s stock valued at $159,000 after buying an additional 6,218 shares during the last quarter. Nine Chapters Capital Management LLC acquired a new stake in shares of Archrock in the third quarter valued at about $161,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Archrock in the third quarter valued at about $168,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Archrock in the second quarter valued at about $175,000. Institutional investors and hedge funds own 92.41% of the company’s stock.
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.
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