Archrock (NYSE:AROC) Stock Price Target Cut by JPMorgan Chase & Co.

Archrock (NYSE:AROC) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $42.00 to $41.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 35.19% from the stock’s current price.

Several other analysts also recently weighed in on AROC. Royal Bank Of Canada boosted their price objective on shares of Archrock from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Weiss Ratings downgraded shares of Archrock from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Evercore set a $40.00 price target on shares of Archrock in a research report on Monday, August 17th. Wells Fargo & Company decreased their price objective on shares of Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Archrock from a “hold” rating to a “strong sell” rating in a research note on Monday, August 31st. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.12.

Archrock Stock Up 0.8%

Shares of NYSE AROC traded up $0.24 during midday trading on Thursday, hitting $30.33. 1,327,274 shares of the company’s stock were exchanged, compared to its average volume of 1,759,145. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.39 and a quick ratio of 0.94. Archrock has a twelve month low of $22.88 and a twelve month high of $42.23. The company has a market cap of $5.32 billion, a PE ratio of 16.30, a P/E/G ratio of 1.49 and a beta of 0.92. The firm’s fifty day simple moving average is $32.13 and its 200-day simple moving average is $35.15.

Archrock (NYSE:AROC) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). The business had revenue of $371.24 million for the quarter, compared to analysts’ expectations of $393.19 million. Archrock had a return on equity of 22.22% and a net margin of 21.84%.Archrock’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. Research analysts predict that Archrock will post 1.73 EPS for the current fiscal year.

Institutional Trading of Archrock

A number of large investors have recently bought and sold shares of the business. Valued Wealth Advisors LLC purchased a new stake in shares of Archrock in the first quarter valued at about $26,000. Summit Securities Group LLC purchased a new position in Archrock during the first quarter worth about $36,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Archrock in the second quarter valued at about $56,000. Public Employees Retirement System of Ohio acquired a new stake in Archrock in the second quarter valued at about $83,000. Finally, Allworth Financial LP purchased a new stake in Archrock in the 2nd quarter valued at approximately $119,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Company Profile

Archrock, Inc (NYSE: AROC) is a Houston-based provider of natural gas compression services and equipment. The company supports the production, gathering, processing, transportation and storage of natural gas by supplying compression infrastructure that helps maintain pressure and move gas through energy systems.

Archrock’s principal business is contract compression, in which it owns and operates a fleet of natural gas compressors and provides them to customers under service agreements.