Weiss Ratings Reaffirms "Buy (B)" Rating for Archrock (NYSE:AROC)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B)" rating for Archrock (NYSE: AROC), indicating a positive outlook on the stock's performance.
• Archrock's price target has seen slight adjustments, with Mizuho raising it to $32.00 and Evercore ISI lowering it to $31.00, while the consensus target remains at $30.00.
• The company reported a 41.6% year-over-year increase in quarterly revenue, totaling $383.15 million, and earnings per share (EPS) of $0.39, surpassing analyst expectations.

Archrock (NYSE:AROC - Get Free Report)'s stock had its "buy (b)" rating reiterated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also recently issued reports on AROC. Mizuho lifted their target price on Archrock from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Evercore ISI lowered their price target on Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Finally, Wells Fargo & Company assumed coverage on Archrock in a report on Wednesday, September 3rd. They set an "overweight" rating and a $30.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Archrock Price Performance

Shares of NYSE AROC traded up $1.53 during mid-day trading on Wednesday, reaching $25.87. The company had a trading volume of 1,840,730 shares, compared to its average volume of 1,457,944. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86. The stock has a market cap of $4.55 billion, a PE ratio of 19.60, a P/E/G ratio of 1.24 and a beta of 1.07. The company has a 50-day moving average price of $24.42 and a two-hundred day moving average price of $24.41. Archrock has a 1-year low of $19.73 and a 1-year high of $30.44.

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. The business had revenue of $383.15 million for the quarter, compared to analysts' expectations of $366.34 million. Archrock had a return on equity of 18.74% and a net margin of 17.17%.The company's quarterly revenue was up 41.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, equities analysts anticipate that Archrock will post 1.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jason C. Rebrook bought 10,000 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was acquired at an average cost of $24.17 per share, with a total value of $241,700.00. Following the acquisition, the director owned 74,511 shares in the company, valued at approximately $1,800,930.87. This represents a 15.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $23.54, for a total value of $235,400.00. Following the completion of the transaction, the senior vice president directly owned 224,809 shares of the company's stock, 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. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Archrock

A number of large investors have recently bought and sold shares of AROC. Farther Finance Advisors LLC grew its position in Archrock by 164.8% during the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company's stock worth $26,000 after acquiring an additional 600 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Archrock by 217.9% during the first quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company's stock valued at $35,000 after acquiring an additional 902 shares during the period. TCTC Holdings LLC boosted its holdings in Archrock by 119.6% in the first quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company's stock valued at $42,000 after acquiring an additional 871 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Archrock in the first quarter worth about $47,000. Finally, State of Wyoming bought a new stake in Archrock during the 1st quarter worth about $53,000. 95.45% of the stock is currently owned by institutional investors.

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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