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

Archrock (NYSE:AROC) had its price target raised by analysts at Royal Bank of Canada from $20.00 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the energy company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 6.06% from the company’s previous close.

Archrock Stock Up 2.4 %

Shares of NYSE:AROC traded up $0.46 during midday trading on Thursday, hitting $19.80. The stock had a trading volume of 429,063 shares, compared to its average volume of 1,270,489. The company has a market cap of $3.09 billion, a P/E ratio of 29.66, a PEG ratio of 2.80 and a beta of 1.58. Archrock has a 12 month low of $8.78 and a 12 month high of $20.14. The business’s 50-day simple moving average is $17.50 and its 200-day simple moving average is $15.13. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.82.

Archrock (NYSE:AROC) last announced 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 company had revenue of $259.60 million during 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 company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. On average, sell-side analysts forecast that Archrock will post 1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archrock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blackstone Inc. boosted its holdings in shares of Archrock by 4,211.9% during the 4th quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company’s stock worth $90,908,000 after buying an additional 5,766,237 shares during the period. Invesco Ltd. lifted its holdings in shares of Archrock by 18.3% during the first quarter. Invesco Ltd. now owns 9,454,203 shares of the energy company’s stock worth $87,262,000 after buying an additional 1,462,659 shares in the last quarter. Sei Investments Co. boosted its position in shares of Archrock by 37.7% in the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company’s stock valued at $78,753,000 after acquiring an additional 1,399,309 shares during the period. Norges Bank acquired a new position in shares of Archrock in the fourth quarter valued at about $11,380,000. Finally, Vanguard Group Inc. increased its position in Archrock by 5.9% during the third quarter. Vanguard Group Inc. now owns 17,248,507 shares of the energy company’s stock worth $110,735,000 after acquiring an additional 963,291 shares during the period. 95.45% of the stock is owned by institutional investors.

About Archrock

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.