Archrock Inc. (AROC) Upgraded to “Buy” at Zacks Investment Research
Archrock Inc. (NYSE:AROC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $15.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 14.68% from the stock’s current price.
According to Zacks, “Archrock, Inc. is a provider of natural gas contract compression services as well as supplier of aftermarket services of compression equipment. The company operates in the oil and gas producing regions primarily in the United States. Archrock, Inc., formerly known as Exterran Holdings, Inc., is based in Houston, United States. “
Other equities analysts have also issued reports about the company. Johnson Rice raised Archrock from a “hold” rating to an “accumulate” rating in a research note on Friday, August 5th. FBR & Co set a $11.00 price objective on Archrock and gave the stock a “hold” rating in a research note on Friday, August 5th. Piper Jaffray Cos. started coverage on Archrock in a research note on Monday, August 22nd. They set a “neutral” rating for the company. Royal Bank Of Canada raised Archrock from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from $4.00 to $10.00 in a research note on Friday, August 5th. Finally, Goldman Sachs Group Inc. raised Archrock to a “buy” rating in a research note on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Archrock currently has a consensus rating of “Hold” and a consensus price target of $11.64.
Shares of Archrock (NYSE:AROC) traded down 0.38% during midday trading on Monday, reaching $13.03. The company’s stock had a trading volume of 439,184 shares. Archrock has a 52 week low of $3.41 and a 52 week high of $24.17. The stock’s market capitalization is $892.23 million. The stock has a 50-day moving average price of $11.61 and a 200 day moving average price of $9.12.
Several hedge funds have recently made changes to their positions in the company. Mason Street Advisors LLC purchased a new stake in shares of Archrock during the second quarter valued at about $128,000. Public Employees Retirement System of Ohio raised its stake in shares of Archrock by 17.9% in the second quarter. Public Employees Retirement System of Ohio now owns 26,879 shares of the company’s stock valued at $253,000 after buying an additional 4,078 shares in the last quarter. Harvest Fund Advisors LLC purchased a new stake in shares of Archrock during the second quarter valued at about $14,732,000. Schwab Charles Investment Management Inc. raised its stake in shares of Archrock by 10.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 702,068 shares of the company’s stock valued at $6,614,000 after buying an additional 65,237 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Archrock during the second quarter valued at about $108,000. Institutional investors and hedge funds own 88.18% of the company’s stock.
Archrock Company Profile
Archrock, Inc, formerly Exterran Holdings, 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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