Archrock (NYSE:AROC) Upgraded at Zacks Research

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

A number of other analysts have also weighed in on AROC. Weiss Ratings restated a “buy (b)” rating on shares of Archrock in a research note on Wednesday, January 21st. Evercore ISI boosted their price target on shares of Archrock from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada boosted their price objective on Archrock from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. One equities 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.40.

Archrock Price Performance

Archrock stock opened at $29.98 on Tuesday. Archrock has a 52-week low of $20.12 and a 52-week high of $30.15. The company’s 50 day moving average is $26.35 and its two-hundred day moving average is $25.05. The company has a quick ratio of 1.01, a current ratio of 1.56 and a debt-to-equity ratio of 1.80. The firm has a market cap of $5.26 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93.

Insider Buying and Selling

In other Archrock news, SVP Eric W. Thode sold 40,740 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $25.10, for a total transaction of $1,022,574.00. Following the sale, the senior vice president directly owned 184,216 shares in the company, valued at approximately $4,623,821.60. The trade was a 18.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Archrock

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. increased its stake in Archrock by 3.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 10,290 shares of the energy company’s stock valued at $268,000 after purchasing an additional 366 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Archrock by 71.0% during the 4th quarter. Sound Income Strategies LLC now owns 971 shares of the energy company’s stock worth $26,000 after purchasing an additional 403 shares during the period. Allworth Financial LP grew its stake in Archrock by 3.0% during the third quarter. Allworth Financial LP now owns 15,030 shares of the energy company’s stock worth $395,000 after buying an additional 436 shares during the period. Nisa Investment Advisors LLC boosted its position in Archrock by 0.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 60,026 shares of the energy company’s stock worth $1,579,000 after purchasing an additional 478 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Archrock by 3.3% in the second quarter. PNC Financial Services Group Inc. now owns 15,247 shares of the energy company’s stock worth $379,000 after buying an additional 490 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.