After Piper Jaffray and RBC Capital gave Archrock (NYSE: AROC) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Tom Curran maintained a Buy rating on Archrock today and set a price target of $16. The company’s shares opened today at $12.95, close to its 52-week high of $13.05.
According to TipRanks.com, Curran is ranked 0 out of 5 stars with an average return of -3.1% and a 49.4% success rate. Curran covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Select Energy Services Inc, and Diamond Offshore Drilling.
Currently, the analyst consensus on Archrock is a Strong Buy with an average price target of $15.25, representing a 17.8% upside. In a report issued on August 3, RBC Capital also reiterated a Buy rating on the stock with a $16 price target.
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Based on Archrock’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.94 million. In comparison, last year the company had a GAAP net loss of $6.87 million.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, Robert Edward Rice, the SVP of AROC sold 67,554 shares for a total of $790,594.
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Archrock, Inc. engages in the provision of operations, maintenance, service, and equipment for oil and natural gas production, processing, and transportation applications. It operates through the Contract Operations and Aftermarket Services segments.
