Zacks Investment Research Lowers Archrock Inc. (AROC) to Hold
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. “
AROC has been the subject of several other research reports. Raymond James Financial Inc. raised shares of Archrock to an outperform rating in a report on Wednesday, June 22nd. Scotiabank lowered shares of Archrock from an outperform rating to a sector perform rating and raised their price objective for the stock from $9.00 to $10.00 in a report on Wednesday, June 22nd. Simmons initiated coverage on shares of Archrock in a report on Monday, August 22nd. They set a neutral rating and a $12.25 price objective for the company. FBR & Co initiated coverage on shares of Archrock in a report on Thursday, July 14th. They set a market perform rating and a $11.00 price objective for the company. Finally, RBC Capital Markets raised shares of Archrock from an underperform rating to a sector perform rating and raised their price target for the company from $4.00 to $10.00 in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $11.64.
Shares of Archrock (NYSE:AROC) opened at 13.13 on Wednesday. Archrock has a 12 month low of $3.41 and a 12 month high of $24.17. The stock’s 50 day moving average price is $11.77 and its 200-day moving average price is $9.30. The firm’s market cap is $899.08 million.
Institutional investors have recently made changes to their positions in the company. Stifel Financial Corp purchased a new position in shares of Archrock during the second quarter worth $108,000. Acrospire Investment Management LLC purchased a new position in shares of Archrock during the first quarter worth $109,000. Huntington Asset Advisors Inc. purchased a new position in shares of Archrock during the first quarter worth $120,000. Mason Street Advisors LLC purchased a new position in shares of Archrock during the second quarter worth $128,000. Finally, Legal & General Group Plc boosted its position in shares of Archrock by 22.7% in the second quarter. Legal & General Group Plc now owns 14,762 shares of the company’s stock worth $136,000 after buying an additional 2,733 shares in the last quarter. 88.18% of the stock is currently owned by institutional investors.
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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