Fintel reports that on September 25, 2024, Evercore ISI Group initiated coverage of Archrock (NYSE:AROC) with a Outperform recommendation.
Analyst Price Forecast Suggests 14.69% Upside
As of September 25, 2024, the average one-year price target for Archrock is $23.97/share. The forecasts range from a low of $22.22 to a high of $26.25. The average price target represents an increase of 14.69% from its latest reported closing price of $20.90 / share.
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The projected annual revenue for Archrock is 1,067MM, an increase of 1.43%. The projected annual non-GAAP EPS is 0.48.
What is the Fund Sentiment?
There are 651 funds or institutions reporting positions in Archrock. This is an increase of 66 owner(s) or 11.28% in the last quarter. Average portfolio weight of all funds dedicated to AROC is 0.19%, an increase of 7.45%. Total shares owned by institutions increased in the last three months by 2.89% to 165,271K shares. 
The put/call ratio of AROC is 2.40, indicating a bearish outlook.
What are Other Shareholders Doing?
Earnest Partners holds 13,419K shares representing 7.63% ownership of the company. In its prior filing, the firm reported owning 14,008K shares , representing a decrease of 4.39%. The firm increased its portfolio allocation in AROC by 0.55% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 8,894K shares representing 5.06% ownership of the company. In its prior filing, the firm reported owning 9,288K shares , representing a decrease of 4.43%. The firm increased its portfolio allocation in AROC by 2.23% over the last quarter.
Bank Of America holds 8,221K shares representing 4.68% ownership of the company. In its prior filing, the firm reported owning 8,438K shares , representing a decrease of 2.63%. The firm decreased its portfolio allocation in AROC by 76.52% over the last quarter.
Invesco holds 6,016K shares representing 3.42% ownership of the company. In its prior filing, the firm reported owning 6,218K shares , representing a decrease of 3.36%. The firm decreased its portfolio allocation in AROC by 91.38% over the last quarter.
Sei Investments holds 5,106K shares representing 2.90% ownership of the company. In its prior filing, the firm reported owning 5,410K shares , representing a decrease of 5.96%. The firm decreased its portfolio allocation in AROC by 19.28% over the last quarter.
Archrock Background Information
(This description is provided by the company.)
Archrock is an energy infrastructure company with a pure-play focus on midstream natural gas compression. Archrock is the leading provider of natural gas compression services to customers in the oil and natural gas industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment in the U.S. Archrock is headquartered in Houston, Texas.
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