Archrock’s (AROC) Hold Rating Reiterated at Scotiabank

Archrock, Inc. (NYSE:AROC)‘s stock had its “hold” rating restated by equities research analysts at Scotiabank in a report released on Friday. They presently have a $14.00 target price on the energy company’s stock. Scotiabank’s target price points to a potential upside of 29.03% from the stock’s current price.

Other equities analysts have also issued research reports about the company. BidaskClub upgraded Archrock from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada reiterated a “buy” rating and issued a $13.00 price target on shares of Archrock in a research note on Wednesday, September 27th. Zacks Investment Research upgraded Archrock from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Tuesday, October 3rd. Finally, FBR & Co reiterated a “market perform” rating and issued a $12.00 price target (up previously from $11.00) on shares of Archrock in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $13.29.

Archrock (NYSE AROC) opened at $10.85 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.79 and a debt-to-equity ratio of 2.12.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Thursday, November 2nd. The energy company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). Archrock had a negative return on equity of 2.96% and a negative net margin of 8.62%. The company had revenue of $197.85 million for the quarter, compared to the consensus estimate of $202.34 million. During the same quarter last year, the business earned $0.01 EPS. Archrock’s revenue was up 1.0% on a year-over-year basis. analysts anticipate that Archrock will post 0.05 EPS for the current year.

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A number of hedge funds have recently modified their holdings of AROC. BlackRock Inc. grew its position in Archrock by 51,362.3% during the 1st quarter. BlackRock Inc. now owns 9,155,144 shares of the energy company’s stock worth $113,523,000 after acquiring an additional 9,137,354 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Archrock by 98.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,970,711 shares of the energy company’s stock worth $33,865,000 after buying an additional 1,472,445 shares during the period. Vanguard Group Inc. lifted its holdings in Archrock by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 8,047,378 shares of the energy company’s stock worth $99,787,000 after buying an additional 868,015 shares during the period. FMR LLC acquired a new position in Archrock during the 1st quarter worth about $10,635,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Archrock by 127.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,002,314 shares of the energy company’s stock worth $11,427,000 after buying an additional 561,671 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

About Archrock

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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