Flowco (NYSE:FLOC) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Flowco from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy,” with four Buy ratings and three Hold ratings.
• Analysts’ consensus price target is $28.40, compared with Flowco’s Friday opening price of $19.66; Citigroup and Piper Sandler recently lowered their targets to $27.00 and $31.00, respectively.
• Flowco reported quarterly EPS of $0.28, missing the $0.37 consensus estimate by $0.09, on revenue of $235.86 million. Several institutional investors nevertheless increased their holdings, including Lazard Asset Management, which raised its stake by 24.4%.

Flowco (NYSE:FLOC - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday, Wall Street Zen reports.

Several other analysts have also issued reports on FLOC. Weiss Ratings upgraded Flowco from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 17th. Citigroup lowered their target price on Flowco from $30.81 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, September 3rd. Piper Sandler dropped their target price on Flowco from $32.00 to $31.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 14th. Finally, Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $28.40.

Flowco Price Performance

Shares of NYSE FLOC opened at $19.66 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.84. The firm has a market cap of $1.78 billion, a PE ratio of 15.85 and a beta of 1.04. The business has a 50 day moving average price of $20.16 and a two-hundred day moving average price of $21.89. Flowco has a fifty-two week low of $15.17 and a fifty-two week high of $28.26.

Flowco (NYSE:FLOC - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share (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 company had revenue of $235.86 million for the quarter. Sell-side analysts expect that Flowco will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flowco

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its holdings in Flowco by 20.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,228 shares of the company's stock valued at $166,000 after acquiring an additional 1,557 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Flowco by 1.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 165,802 shares of the company's stock worth $3,416,000 after acquiring an additional 3,009 shares during the period. Bank of New York Mellon Corp increased its position in shares of Flowco by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 214,954 shares of the company's stock valued at $4,428,000 after purchasing an additional 7,021 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Flowco during the first quarter valued at approximately $369,000. Finally, Lazard Asset Management LLC raised its stake in shares of Flowco by 24.4% in the first quarter. Lazard Asset Management LLC now owns 128,118 shares of the company's stock valued at $2,639,000 after purchasing an additional 25,144 shares in the last quarter.

Flowco Company Profile

Flowco Holdings Inc is an energy services company that provides production optimization and emissions-reduction solutions to oil and gas producers. Its services are designed to help customers improve well performance, maintain production and manage emissions throughout the life of a well.

The company's offerings include artificial-lift systems and related equipment, production-monitoring and optimization technologies, and solutions for managing methane and other emissions. Flowco supports producers with a combination of engineered products, field services and ongoing technical assistance.

Flowco primarily serves the U.S.

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