Brokerages Set Archrock, Inc. (NYSE:AROC) Target Price at $26.67

Archrock, Inc. (NYSE:AROC) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $26.67.

AROC has been the topic of a number of research analyst reports. Citigroup boosted their target price on Archrock from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Sidoti upgraded Archrock to a “hold” rating in a research report on Wednesday, May 7th.

Insider Buying and Selling at Archrock

In related news, SVP Jason Ingersoll sold 42,036 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $24.49, for a total value of $1,029,461.64. Following the transaction, the senior vice president owned 275,911 shares of the company’s stock, valued at $6,757,060.39. This represents a 13.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Archrock

Several hedge funds and other institutional investors have recently bought and sold shares of AROC. Farther Finance Advisors LLC boosted its position in shares of Archrock by 164.8% in the 1st quarter. Farther Finance Advisors LLC now owns 964 shares of the energy company’s stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Archrock during the 1st quarter worth about $33,000. Jones Financial Companies Lllp lifted its position in Archrock by 217.9% during the 1st quarter. Jones Financial Companies Lllp now owns 1,316 shares of the energy company’s stock worth $35,000 after acquiring an additional 902 shares during the period. TCTC Holdings LLC lifted its position in Archrock by 119.6% during the 1st quarter. TCTC Holdings LLC now owns 1,599 shares of the energy company’s stock worth $42,000 after acquiring an additional 871 shares during the period. Finally, Bayforest Capital Ltd acquired a new stake in Archrock during the 1st quarter worth about $47,000. Institutional investors own 95.45% of the company’s stock.

Archrock Stock Performance

NYSE AROC opened at $24.59 on Friday. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 1.33 and a beta of 1.08. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 1.70. The business has a 50-day moving average price of $24.89 and a 200-day moving average price of $25.58. Archrock has a twelve month low of $17.27 and a twelve month high of $30.44.

Archrock (NYSE:AROC) last released its quarterly earnings data on Monday, May 5th. The energy company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $347.16 million during the quarter, compared to analyst estimates of $342.98 million. Archrock had a return on equity of 18.31% and a net margin of 16.38%. As a group, equities research analysts predict that Archrock will post 1.09 EPS for the current fiscal year.

Archrock announced that its Board of Directors has authorized a stock repurchase program on Monday, May 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the energy company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Archrock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Stockholders of record on Tuesday, May 6th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.76 annualized dividend and a dividend yield of 3.09%. Archrock’s payout ratio is 64.41%.

About Archrock

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.