Archrock (NYSE:AROC) Price Target Raised to $21.00 at Royal Bank of Canada

Archrock (NYSE:AROC) had its price target upped by equities research analysts at Royal Bank of Canada from $20.00 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the energy company’s stock. Royal Bank of Canada’s target price points to a potential upside of 6.06% from the company’s current price.

Archrock Trading Up 2.4 %

Shares of AROC traded up $0.46 on Thursday, hitting $19.80. 429,063 shares of the stock traded hands, compared to its average volume of 1,270,489. Archrock has a 1 year low of $8.78 and a 1 year high of $20.14. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.82. The stock’s 50 day moving average is $17.50 and its two-hundred day moving average is $15.13. The firm has a market capitalization of $3.09 billion, a P/E ratio of 29.66, a P/E/G ratio of 2.80 and a beta of 1.58.

Archrock (NYSE:AROC) last posted its quarterly earnings data on Wednesday, February 21st. The energy company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $259.60 million for the quarter, compared to the consensus estimate of $252.42 million. Archrock had a net margin of 10.60% and a return on equity of 12.63%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 EPS. As a group, sell-side analysts predict that Archrock will post 1 earnings per share for the current year.

Hedge Funds Weigh In On Archrock

Institutional investors and hedge funds have recently modified their holdings of the business. Blackstone Inc. purchased a new position in Archrock in the 3rd quarter worth approximately $1,725,000. Envestnet Asset Management Inc. boosted its holdings in shares of Archrock by 110.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 971,477 shares of the energy company’s stock worth $12,241,000 after purchasing an additional 509,862 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Archrock during the 3rd quarter worth approximately $620,000. Los Angeles Capital Management LLC acquired a new position in shares of Archrock during the 3rd quarter worth approximately $1,269,000. Finally, Trexquant Investment LP acquired a new position in Archrock in the third quarter valued at approximately $892,000. 95.45% of the stock is currently owned by institutional investors.

Archrock Company Profile

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.