Archrock (NYSE:AROC) Earns Overweight Rating from Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has initiated coverage on Archrock (NYSE: AROC) with an "overweight" rating and a price target of $30.00, indicating a potential upside of 22.72% from its current price.
• Archrock reported $0.39 EPS for the last quarter, exceeding the consensus estimate of $0.37, with significant revenue growth of 41.6% compared to the previous year.
• Currently, Archrock has a Moderate Buy rating based on analyst reviews, with six analysts recommending a Buy and one a Hold.

Equities researchers at Wells Fargo & Company initiated coverage on shares of Archrock (NYSE:AROC - Get Free Report) in a research report issued on Wednesday, MarketBeat Ratings reports. The firm set an "overweight" rating and a $30.00 price target on the energy company's stock. Wells Fargo & Company's price objective indicates a potential upside of 18.74% from the stock's current price.

Several other analysts have also recently weighed in on the stock. Mizuho lifted their price target on shares of Archrock from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Sidoti raised Archrock to a "hold" rating in a research report on Wednesday, May 7th. Finally, Evercore ISI cut their price objective on Archrock from $32.00 to $31.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $30.00.

Archrock Trading Down 0.7%

Shares of AROC stock traded down $0.18 during trading hours on Wednesday, reaching $25.27. The company's stock had a trading volume of 1,703,882 shares, compared to its average volume of 1,299,648. The stock has a market capitalization of $4.44 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.30 and a beta of 1.14. Archrock has a one year low of $18.38 and a one year high of $30.44. The firm's fifty day simple moving average is $23.86 and its 200 day simple moving average is $24.50. The company has a current ratio of 1.81, a quick ratio of 1.30 and a debt-to-equity ratio of 1.86.

Archrock (NYSE:AROC - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $383.15 million for the quarter, compared to analysts' expectations of $366.34 million. Archrock had a net margin of 17.17% and a return on equity of 18.74%. The firm's revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. Equities research analysts expect that Archrock will post 1.09 EPS for the current year.

Insider Transactions at Archrock

In other Archrock news, SVP Eric W. Thode sold 10,000 shares of the stock in a transaction 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 owned 224,809 shares in the company, valued at approximately $5,292,003.86. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company's stock.

Institutional Trading of Archrock

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its holdings in Archrock by 19.3% in the second quarter. Osaic Holdings Inc. now owns 9,293 shares of the energy company's stock worth $231,000 after acquiring an additional 1,503 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Archrock by 14.1% in the second quarter. Neuberger Berman Group LLC now owns 16,794 shares of the energy company's stock worth $417,000 after acquiring an additional 2,079 shares in the last quarter. Caxton Associates LLP bought a new stake in Archrock in the second quarter worth $310,000. Public Sector Pension Investment Board boosted its holdings in Archrock by 8.5% in the second quarter. Public Sector Pension Investment Board now owns 602,756 shares of the energy company's stock worth $14,966,000 after acquiring an additional 47,298 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Archrock by 1.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 157,333 shares of the energy company's stock worth $3,906,000 after acquiring an additional 2,310 shares in the last quarter. Hedge funds and other institutional investors 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.