Archrock’s (AROC) Buy Rating Reaffirmed at Royal Bank of Canada

Archrock (NYSE:AROC)‘s stock had its “buy” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Thursday. They presently have a $14.00 price target on the energy company’s stock. Royal Bank of Canada’s target price points to a potential upside of 46.60% from the stock’s current price.

A number of other research analysts have also recently commented on AROC. BidaskClub raised shares of Archrock from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Archrock from a “sell” rating to a “hold” rating in a report on Monday, September 25th. Scotiabank reissued a “hold” rating and issued a $14.00 target price on shares of Archrock in a report on Friday, November 3rd. Finally, B. Riley reaffirmed a “neutral” rating on shares of Archrock in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Archrock currently has an average rating of “Hold” and an average price target of $13.46.

Archrock (NYSE:AROC) traded down $0.35 during mid-day trading on Thursday, hitting $9.55. 2,078,642 shares of the stock were exchanged, compared to its average volume of 2,163,700. The company has a market capitalization of $678.20, a PE ratio of -9.85 and a beta of 3.34. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.63 and a quick ratio of 0.94. Archrock has a 52-week low of $8.30 and a 52-week high of $16.40.

Archrock (NYSE:AROC) last posted its earnings results on Thursday, November 2nd. The energy company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $197.85 million during the quarter, compared to the consensus estimate of $202.34 million. Archrock had a negative return on equity of 2.93% and a negative net margin of 8.62%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.01 EPS. sell-side analysts forecast that Archrock will post -0.23 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new position in shares of Archrock in the second quarter valued at approximately $175,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Archrock by 312.1% in the second 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 buying an additional 163,149 shares during the period. Principal Financial Group Inc. increased its stake in shares of Archrock by 1.8% in the second quarter. Principal Financial Group Inc. now owns 570,136 shares of the energy company’s stock valued at $6,499,000 after buying an additional 9,951 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Archrock by 11.7% in the second quarter. Goldman Sachs Group Inc. now owns 551,374 shares of the energy company’s stock valued at $6,285,000 after buying an additional 57,669 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Archrock by 3.1% in the second quarter. Northern Trust Corp now owns 866,022 shares of the energy company’s stock valued at $9,872,000 after buying an additional 25,951 shares during the period. 90.23% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/01/04/archrocks-aroc-buy-rating-reaffirmed-at-royal-bank-of-canada.html.

About Archrock

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)

Receive News & Ratings for Archrock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archrock and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply