Zacks Investment Research Lowers Archrock, Inc. (AROC) to Hold

Zacks Investment Research downgraded shares of Archrock, Inc. (NYSE:AROC) from a buy rating to a hold rating in a research report released on Tuesday morning.

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. “

Other equities analysts have also issued reports about the stock. BidaskClub raised shares of Archrock from a hold rating to a buy rating in a report on Wednesday, July 19th. Royal Bank Of Canada reissued a buy rating and set a $13.00 price objective on shares of Archrock in a report on Wednesday, September 27th. Capital One Financial Corporation lowered shares of Archrock from an overweight rating to an equal weight rating in a report on Friday, June 23rd. Scotiabank set a $15.00 price objective on shares of Archrock and gave the company a hold rating in a report on Tuesday, August 1st. Finally, FBR & Co reissued a market perform rating and set a $12.00 price objective (up from $11.00) on shares of Archrock in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Archrock has an average rating of Hold and a consensus price target of $13.46.

Archrock (NYSE:AROC) last issued its quarterly earnings data on Tuesday, August 1st. The energy company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. The company had revenue of $198.00 million for the quarter, compared to analyst estimates of $196.00 million. Archrock had a negative net margin of 8.57% and a negative return on equity of 3.44%. The firm’s revenue was up 4.2% on a year-over-year basis.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in Archrock by 0.4% in the second quarter. PNC Financial Services Group Inc. now owns 29,392 shares of the energy company’s stock valued at $335,000 after acquiring an additional 119 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Archrock by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the energy company’s stock valued at $329,000 after acquiring an additional 200 shares in the last quarter. Arizona State Retirement System boosted its stake in Archrock by 0.5% in the second quarter. Arizona State Retirement System now owns 36,981 shares of the energy company’s stock valued at $422,000 after acquiring an additional 200 shares in the last quarter. Texas Permanent School Fund boosted its stake in Archrock by 0.6% in the first quarter. Texas Permanent School Fund now owns 51,072 shares of the energy company’s stock valued at $633,000 after acquiring an additional 288 shares in the last quarter. Finally, Pacad Investment Ltd. boosted its stake in Archrock by 6.0% in the second quarter. Pacad Investment Ltd. now owns 8,900 shares of the energy company’s stock valued at $101,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 91.86% of the company’s stock.

About Archrock

Archrock, 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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