Archrock (NYSE:AROC) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Archrock has been upgraded to a Strong Buy rating by Zacks Research, indicating analysts' positive outlook on the stock.
• The company reported a significant increase in earnings per share, with a 41.6% rise in revenue compared to the same quarter last year.
• Over 95% of Archrock's stock is owned by institutional investors, highlighting strong investor confidence in the company.

Archrock (NYSE:AROC - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

AROC has been the topic of several other reports. Wells Fargo & Company started coverage on shares of Archrock in a report on Wednesday, September 3rd. They issued an "overweight" rating and a $30.00 price objective on the stock. Evercore ISI cut their target price on shares of Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Mizuho increased their target price on shares of Archrock from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Archrock in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $30.00.

Archrock Trading Up 0.4%

Shares of NYSE AROC opened at $24.68 on Monday. The company's 50 day simple moving average is $24.71 and its 200 day simple moving average is $24.30. Archrock has a fifty-two week low of $19.73 and a fifty-two week high of $30.44. The firm has a market capitalization of $4.34 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.27 and a beta of 1.07. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.81 and a quick ratio of 1.30.

Archrock (NYSE:AROC - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The energy company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The business had revenue of $383.15 million for the quarter, compared to analyst estimates of $366.34 million. During the same period in the prior year, the business posted $0.23 earnings per share. Archrock's revenue was up 41.6% compared to the same quarter last year. On average, analysts predict that Archrock will post 1.09 EPS for the current year.

Insider Buying and Selling at Archrock

In related news, Director Jason C. Rebrook acquired 5,000 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average cost of $23.94 per share, for a total transaction of $119,700.00. Following the completion of the acquisition, the director directly owned 79,511 shares in the company, valued at approximately $1,903,493.34. The trade was a 6.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Eric W. Thode sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total transaction of $235,400.00. Following the sale, the senior vice president owned 224,809 shares in the company, valued at approximately $5,292,003.86. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vident Advisory LLC raised its position in shares of Archrock by 4.9% in the 1st quarter. Vident Advisory LLC now owns 9,032 shares of the energy company's stock valued at $237,000 after buying an additional 420 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Archrock by 3.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 15,247 shares of the energy company's stock valued at $379,000 after buying an additional 490 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Archrock by 1.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 38,161 shares of the energy company's stock valued at $1,001,000 after buying an additional 521 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Archrock by 49.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,640 shares of the energy company's stock valued at $43,000 after buying an additional 546 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Archrock by 4.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,761 shares of the energy company's stock valued at $335,000 after buying an additional 574 shares in the last quarter. Institutional investors 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.

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