Archrock (NYSE:AROC) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Archrock’s price target from $42 to $41 while maintaining an “overweight” rating, implying approximately 35.19% upside from the prior close.
• Analyst sentiment remains generally positive, with 10 Buy ratings and one Sell rating; the consensus rating is “Moderate Buy” with an average price target of $42.12.
• Archrock shares rose 0.8% to $30.33, while the company’s latest quarterly results missed expectations, reporting $0.38 in earnings per share versus the $0.45 consensus estimate and revenue of $371.24 million.

Archrock (NYSE:AROC - Get Free Report) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $42.00 to $41.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the energy company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 35.19% from the company's previous close.

A number of other equities research analysts also recently issued reports on the stock. Evercore set a $40.00 price target on shares of Archrock in a research note on Monday, August 17th. Royal Bank Of Canada lifted their target price on shares of Archrock from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Monday, August 17th. Zacks Research lowered Archrock from a "hold" rating to a "strong sell" rating in a research report on Monday, August 31st. Wells Fargo & Company decreased their price target on Archrock from $43.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings lowered Archrock from a "buy (a-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.12.

Archrock Trading Up 0.8%

NYSE:AROC traded up $0.24 on Thursday, reaching $30.33. The company's stock had a trading volume of 1,327,274 shares, compared to its average volume of 1,759,145. Archrock has a 12-month low of $22.88 and a 12-month high of $42.23. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 1.51. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92. The stock has a 50 day moving average price of $32.13 and a 200 day moving average price of $35.15.

Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.07). The business had revenue of $371.24 million for the quarter, compared to analysts' expectations of $393.19 million. Archrock had a return on equity of 22.22% and a net margin of 21.84%.The business's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, equities analysts anticipate that Archrock will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Archrock

A number of hedge funds have recently bought and sold shares of the stock. Congress Asset Management Co. lifted its stake in Archrock by 14.4% in the third quarter. Congress Asset Management Co. now owns 2,532,464 shares of the energy company's stock worth $76,708,000 after acquiring an additional 319,256 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Archrock by 56.1% in the 3rd quarter. Versant Capital Management Inc now owns 5,764 shares of the energy company's stock valued at $175,000 after purchasing an additional 2,072 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Archrock by 24.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 31,627 shares of the energy company's stock valued at $1,288,000 after purchasing an additional 6,257 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Archrock in the 2nd quarter valued at $234,000. Finally, Tidal Investments LLC raised its holdings in shares of Archrock by 102.4% in the 2nd quarter. Tidal Investments LLC now owns 16,433 shares of the energy company's stock valued at $669,000 after purchasing an additional 8,314 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

About Archrock

Archrock, Inc NYSE: AROC is a Houston-based provider of natural gas compression services and equipment. The company supports the production, gathering, processing, transportation and storage of natural gas by supplying compression infrastructure that helps maintain pressure and move gas through energy systems.

Archrock's principal business is contract compression, in which it owns and operates a fleet of natural gas compressors and provides them to customers under service agreements.

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