Zacks Research Downgrades Flowco (NYSE:FLOC) to Strong Sell

Flowco (NYSE:FLOC) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

FLOC has been the subject of a number of other research reports. Wall Street Zen cut Flowco from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Piper Sandler reduced their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings raised Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price objective on shares of Flowco in a report on Thursday, May 7th. Finally, Citigroup began coverage on shares of Flowco in a research report on Thursday, May 28th. They set a “neutral” rating and a $31.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.20.

Flowco Stock Performance

NYSE FLOC opened at $22.65 on Thursday. The firm’s fifty day moving average price is $21.28 and its two-hundred day moving average price is $22.67. The stock has a market cap of $2.05 billion, a PE ratio of 18.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67. Flowco has a fifty-two week low of $14.03 and a fifty-two week high of $28.26.

Flowco (NYSE:FLOC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Flowco had a net margin of 6.07% and a return on equity of 35.21%. The firm had revenue of $235.86 million during the quarter. On average, equities analysts expect that Flowco will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Flowco

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in Flowco by 8,929.4% during the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock valued at $29,000 after acquiring an additional 1,518 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Flowco during the 4th quarter worth about $29,000. Aster Capital Management DIFC Ltd bought a new position in shares of Flowco in the 4th quarter worth about $29,000. Tower Research Capital LLC TRC lifted its stake in shares of Flowco by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after purchasing an additional 1,292 shares during the period. Finally, US Bancorp DE bought a new stake in shares of Flowco during the 3rd quarter valued at about $61,000.

About Flowco

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.