Archrock, Inc. (AROC) Lowered to “Buy” at BidaskClub
BidaskClub downgraded shares of Archrock, Inc. (NYSE:AROC) from a strong-buy rating to a buy rating in a research note released on Wednesday.
Several other research analysts have also commented on AROC. Scotiabank set a $15.00 price target on shares of Archrock and gave the stock a hold rating in a research note on Tuesday, June 20th. Capital One Financial Corporation lowered shares of Archrock from an overweight rating to an equal weight rating in a research note on Friday, June 23rd. Zacks Investment Research lowered shares of Archrock from a buy rating to a hold rating in a research note on Tuesday, July 25th. FBR & Co restated a market perform rating and set a $12.00 price target (up previously from $11.00) on shares of Archrock in a research note on Thursday, August 3rd. Finally, J P Morgan Chase & Co restated a neutral rating and set a $12.00 price target (down previously from $13.00) on shares of Archrock in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $13.46.
Shares of Archrock (NYSE AROC) traded down 1.59% during mid-day trading on Wednesday, reaching $12.35. 182,777 shares of the company were exchanged. Archrock has a 12 month low of $8.30 and a 12 month high of $16.40. The firm’s 50-day moving average is $11.54 and its 200-day moving average is $11.28. The company’s market capitalization is $876.10 million.
Archrock (NYSE:AROC) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. Archrock had a negative net margin of 8.57% and a negative return on equity of 3.44%. The company had revenue of $198.00 million for the quarter, compared to analyst estimates of $196.00 million. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Archrock will post ($0.20) earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the stock. Pacad Investment Ltd. grew its stake in Archrock by 6.0% in the 2nd quarter. Pacad Investment Ltd. now owns 8,900 shares of the energy company’s stock valued at $101,000 after buying an additional 500 shares during the last quarter. Harbour Capital Advisors LLC grew its stake in Archrock by 696.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 11,400 shares of the energy company’s stock valued at $1,000,000 after buying an additional 9,968 shares during the last quarter. Virginia Retirement Systems ET AL grew its stake in Archrock by 16.5% in the 1st quarter. Virginia Retirement Systems ET AL now owns 12,231 shares of the energy company’s stock valued at $152,000 after buying an additional 1,731 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Archrock by 79.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,008 shares of the energy company’s stock valued at $159,000 after buying an additional 6,218 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in Archrock in the 2nd quarter valued at $175,000. Institutional investors and hedge funds own 91.86% of the company’s stock.
Archrock Company Profile
Archrock, Inc is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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