Archrock (NYSE:AROC) Stock Rating Upgraded by Zacks Research

Archrock (NYSE:AROC) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada boosted their price target on shares of Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Evercore ISI lifted their price objective on shares of Archrock from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Archrock in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Archrock presently has an average rating of “Buy” and an average target price of $32.40.

Archrock Stock Performance

Shares of NYSE AROC opened at $29.98 on Tuesday. The stock’s fifty day simple moving average is $26.35 and its 200 day simple moving average is $25.05. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.28 and a beta of 0.93. The company has a quick ratio of 1.01, a current ratio of 1.56 and a debt-to-equity ratio of 1.80. Archrock has a 52-week low of $20.12 and a 52-week high of $30.15.

Insider Buying and Selling at Archrock

In other news, SVP Eric W. Thode sold 40,740 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $25.10, for a total value of $1,022,574.00. Following the transaction, the senior vice president directly owned 184,216 shares of the company’s stock, valued at approximately $4,623,821.60. This represents a 18.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AROC. First Citizens Bank & Trust Co. raised its holdings in Archrock by 183.8% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 28,545 shares of the energy company’s stock worth $709,000 after acquiring an additional 18,488 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of Archrock in the second quarter valued at about $319,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Archrock by 8.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,574 shares of the energy company’s stock worth $511,000 after purchasing an additional 1,617 shares during the period. Hsbc Holdings PLC increased its stake in shares of Archrock by 55.1% in the second quarter. Hsbc Holdings PLC now owns 121,089 shares of the energy company’s stock worth $3,049,000 after purchasing an additional 43,023 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Archrock during the 2nd quarter worth about $676,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

About Archrock

Archrock, Inc is a Houston‐based provider of natural gas compression services and equipment to the oil and gas industry in North America. Founded in 2004, the company supplies both short‐term rentals and long‐term contracts for compression solutions, serving upstream and midstream producers. Archrock’s offerings include engineered compression systems, aftermarket parts, maintenance and field services designed to optimize wellhead and pipeline operations.

The company’s core business activities focus on the design, manufacture, rental and sale of gas compression equipment.