J P Morgan Chase & Co Trims Archrock, Inc. (AROC) Target Price to $12.00

Archrock, Inc. (NYSE:AROC) had its price target decreased by equities researchers at J P Morgan Chase & Co from $13.00 to $12.00 in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a “neutral” rating on the energy company’s stock. J P Morgan Chase & Co’s price objective would indicate a potential upside of 18.23% from the company’s previous close.

Several other analysts also recently issued reports on AROC. Simmons raised their price objective on shares of Archrock from $14.25 to $14.75 and gave the stock a “neutral” rating in a research note on Tuesday, April 11th. Royal Bank Of Canada reissued a “hold” rating and issued a $15.00 price objective on shares of Archrock in a research note on Friday, April 21st. Zacks Investment Research downgraded shares of Archrock from a “hold” rating to a “sell” rating in a research note on Monday, May 1st. Scotiabank set a $16.00 price objective on shares of Archrock and gave the stock a “hold” rating in a research note on Saturday, May 6th. Finally, Capital One Financial Corporation downgraded shares of Archrock from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.29.

Shares of Archrock (NYSE:AROC) traded down 0.739% on Tuesday, reaching $10.075. The company had a trading volume of 153,695 shares. The stock’s 50 day moving average is $11.10 and its 200 day moving average is $12.39. Archrock has a 52 week low of $8.52 and a 52 week high of $16.40. The firm’s market capitalization is $714.71 million.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported ($0.03) EPS for the quarter, beating the Zacks’ 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 firm had revenue of $198 million during the quarter, compared to the consensus estimate of $196 million. The company’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Archrock will post ($0.10) EPS for the current year.

ILLEGAL ACTIVITY WARNING: “J P Morgan Chase & Co Trims Archrock, Inc. (AROC) Target Price to $12.00” was originally published by Markets Daily and is owned by of Markets Daily. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.themarketsdaily.com/2017/08/08/archrock-inc-nysearoc-pt-lowered-to-12-00.html.

Several institutional investors have recently modified their holdings of AROC. Virginia Retirement Systems ET AL raised its position in shares of Archrock by 16.5% in the first quarter. Virginia Retirement Systems ET AL now owns 12,231 shares of the energy company’s stock worth $152,000 after buying an additional 1,731 shares during the period. State of Alaska Department of Revenue raised its position in shares of Archrock by 79.8% in the second quarter. State of Alaska Department of Revenue now owns 14,008 shares of the energy company’s stock worth $159,000 after buying an additional 6,218 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Archrock by 4.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,650 shares of the energy company’s stock worth $190,000 after buying an additional 780 shares during the period. Mason Street Advisors LLC raised its position in shares of Archrock by 8.4% in the first quarter. Mason Street Advisors LLC now owns 16,494 shares of the energy company’s stock worth $205,000 after buying an additional 1,279 shares during the period. Finally, UBS Group AG raised its position in shares of Archrock by 101.3% in the first quarter. UBS Group AG now owns 20,020 shares of the energy company’s stock worth $248,000 after buying an additional 10,077 shares during the period. 88.53% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Archrock (NYSE:AROC)

Receive News & Ratings for Archrock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archrock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply