Archrock Inc. (NYSE:AROC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 topic of several other research reports. Raymond James Financial Inc. upgraded Archrock to an “outperform” rating in a research note on Wednesday, June 22nd. Scotiabank lowered Archrock from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $9.00 to $10.00 in a research note on Wednesday, June 22nd. Simmons began coverage on Archrock in a research note on Monday, August 22nd. They set a “neutral” rating and a $12.25 target price on the stock. FBR & Co began coverage on Archrock in a research note on Thursday, July 14th. They set a “market perform” rating and a $11.00 target price on the stock. Finally, RBC Capital Markets upgraded Archrock from an “underperform” rating to a “sector perform” rating and increased their target price for the stock from $4.00 to $10.00 in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.64.
Shares of Archrock (NYSE:AROC) traded up 3.23% during trading on Wednesday, reaching $13.11. The company’s stock had a trading volume of 478,271 shares. The firm’s 50-day moving average is $11.69 and its 200 day moving average is $9.24. Archrock has a 52-week low of $3.41 and a 52-week high of $24.17. The company’s market cap is $897.71 million.
Several large investors have recently modified their holdings of AROC. JPMorgan Chase & Co. increased its stake in shares of Archrock by 57.4% in the first quarter. JPMorgan Chase & Co. now owns 1,163,724 shares of the company’s stock worth $9,310,000 after buying an additional 424,374 shares in the last quarter. Smith Asset Management Group LP acquired a new stake in shares of Archrock during the second quarter worth $455,000. Credit Agricole S A acquired a new stake in shares of Archrock during the first quarter worth $2,010,000. Contrarian Capital Management L.L.C. acquired a new stake in shares of Archrock during the first quarter worth $1,261,000. Finally, Prudential Financial Inc. increased its stake in shares of Archrock by 5.6% in the first quarter. Prudential Financial Inc. now owns 687,610 shares of the company’s stock worth $5,501,000 after buying an additional 36,700 shares in the last quarter. 88.18% of the stock is currently owned by hedge funds and other 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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