Archrock's (AROC) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed Archrock's stock rating as "buy," signaling confidence in the company's performance amidst changing market conditions.
• Analysts maintain a consensus price target of $30.00 for Archrock, with varying opinions from firms like Wells Fargo and Evercore ISI regarding price expectations.
• Archrock reported strong earnings last quarter, with a net margin of 17.17% and revenue growth of 41.6% year-over-year, exceeding analysts' forecasts.

Archrock (NYSE:AROC - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company assumed coverage on Archrock in a report on Wednesday, September 3rd. They set an "overweight" rating and a $30.00 price objective on the stock. Evercore ISI cut their price objective on Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Zacks Research upgraded Archrock from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, Mizuho lifted their price objective on Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $30.00.

Archrock Trading Down 0.1%

AROC traded down $0.02 during midday trading on Friday, reaching $25.45. 1,334,944 shares of the company were exchanged, compared to its average volume of 1,460,025. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.30 and a current ratio of 1.81. Archrock has a one year low of $19.73 and a one year high of $30.44. The stock has a market capitalization of $4.47 billion, a P/E ratio of 19.28, a PEG ratio of 1.30 and a beta of 1.07. The stock's 50-day simple moving average is $24.77 and its 200 day simple moving average is $24.33.

Archrock (NYSE:AROC - Get Free Report) last issued its earnings results on Monday, August 4th. The energy company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The firm had revenue of $383.15 million for the quarter, compared to analysts' expectations of $366.34 million. During the same quarter last year, the business earned $0.23 earnings per share. The company's revenue was up 41.6% compared to the same quarter last year. As a group, analysts forecast that Archrock will post 1.09 earnings per share for the current fiscal year.

Insider Activity at Archrock

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AROC. Nuveen LLC acquired a new position in shares of Archrock during the 1st quarter worth approximately $43,092,000. Driehaus Capital Management LLC acquired a new position in shares of Archrock during the 1st quarter worth approximately $25,374,000. Balyasny Asset Management L.P. acquired a new position in shares of Archrock during the 2nd quarter worth approximately $16,027,000. Franklin Resources Inc. increased its position in shares of Archrock by 78.7% during the 2nd quarter. Franklin Resources Inc. now owns 1,237,956 shares of the energy company's stock worth $30,738,000 after purchasing an additional 545,336 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Archrock by 9.2% during the 2nd quarter. American Century Companies Inc. now owns 5,886,085 shares of the energy company's stock worth $146,152,000 after purchasing an additional 497,121 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Archrock Company Profile

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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