Zacks Investment Research Downgrades Archrock (AROC) to Hold

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Zacks Investment Research downgraded shares of Archrock (NYSE:AROC) from a strong-buy rating to a hold rating in a research report report published on Tuesday, September 18th.

According to Zacks, “Archrock, Inc. is a provider of natural gas contract compression services as well as supplier of aftermarket services of compression equipment. The company operates in the oil and gas producing regions primarily in the United States. Archrock, Inc., formerly known as Exterran Holdings, Inc., is based in Houston, United States. “

Several other research analysts have also weighed in on AROC. ValuEngine raised shares of Archrock from a sell rating to a hold rating in a research note on Tuesday, May 22nd. B. Riley increased their target price on shares of Archrock from $14.00 to $15.00 and gave the stock a buy rating in a research note on Tuesday, May 22nd. Royal Bank of Canada reaffirmed a buy rating and set a $16.00 target price on shares of Archrock in a research note on Friday, August 3rd. TheStreet raised shares of Archrock from a d+ rating to a c- rating in a research note on Wednesday, August 1st. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $14.75 target price on shares of Archrock in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $14.54.

AROC stock traded up $0.18 during mid-day trading on Tuesday, hitting $11.42. 937,547 shares of the company were exchanged, compared to its average volume of 1,421,570. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.35 and a quick ratio of 0.86. The firm has a market cap of $1.58 billion, a PE ratio of -57.10 and a beta of 2.86. Archrock has a 12-month low of $8.25 and a 12-month high of $13.75.

Archrock (NYSE:AROC) last announced its earnings results on Thursday, August 2nd. The energy company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company had revenue of $226.87 million during the quarter, compared to analyst estimates of $216.63 million. Archrock had a net margin of 4.19% and a return on equity of 0.45%. Sell-side analysts anticipate that Archrock will post 0.24 EPS for the current fiscal year.

In other Archrock news, CFO Doug S. Aron acquired 10,000 shares of the stock in a transaction dated Friday, August 17th. The stock was acquired at an average price of $11.92 per share, with a total value of $119,200.00. Following the completion of the purchase, the chief financial officer now owns 49,215 shares in the company, valued at approximately $586,642.80. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.54% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Archrock in the second quarter valued at approximately $523,000. Flinton Capital Management LLC raised its holdings in Archrock by 90.0% in the second quarter. Flinton Capital Management LLC now owns 25,976 shares of the energy company’s stock valued at $312,000 after acquiring an additional 12,308 shares in the last quarter. Texas Permanent School Fund raised its holdings in Archrock by 77.7% in the second quarter. Texas Permanent School Fund now owns 83,455 shares of the energy company’s stock valued at $1,001,000 after acquiring an additional 36,486 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in Archrock by 89.0% in the second quarter. Pinebridge Investments L.P. now owns 192,032 shares of the energy company’s stock valued at $2,304,000 after acquiring an additional 90,403 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Archrock by 48.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,140,544 shares of the energy company’s stock valued at $13,687,000 after acquiring an additional 373,219 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

Archrock Company Profile

Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.

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