Zacks Research Upgrades Flowco (NYSE:FLOC) to "Hold"

Key Points

• Zacks Research upgraded Flowco from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy,” with four Buy ratings and three Hold ratings and a consensus price target of $28.40.
• Flowco shares opened at $19.53, below the consensus target and their 50-day and 200-day moving averages. The stock has traded between $14.06 and $28.26 over the past year.
• The company reported quarterly EPS of $0.28, missing estimates of $0.37, on revenue of $235.86 million. Several institutional investors, including Bank of America, recently increased their positions or initiated stakes.

Flowco (NYSE:FLOC - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday, Zacks reports.

FLOC has been the topic of a number of other reports. Weiss Ratings raised Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Citigroup reduced their price target on Flowco from $30.81 to $27.00 and set a "neutral" rating for the company in a report on Thursday, September 3rd. Piper Sandler lowered their price objective on Flowco from $32.00 to $31.00 and set an "overweight" rating for the company in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded Flowco from a "buy" rating to a "hold" rating in a report on Monday, August 17th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Flowco currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.40.

Flowco Price Performance

FLOC opened at $19.53 on Monday. Flowco has a twelve month low of $14.06 and a twelve month high of $28.26. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 15.75 and a beta of 1.04. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $20.70 and a 200 day simple moving average of $21.99.

Flowco (NYSE:FLOC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.09). The firm had revenue of $235.86 million during the quarter. Flowco had a return on equity of 35.21% and a net margin of 6.07%. Equities research analysts expect that Flowco will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Flowco

Institutional investors have recently modified their holdings of the stock. Sei Investments Co. raised its stake in Flowco by 42.3% during the first quarter. Sei Investments Co. now owns 178,062 shares of the company's stock valued at $3,668,000 after buying an additional 52,961 shares in the last quarter. Bank of America Corp DE lifted its holdings in Flowco by 327.4% during the 1st quarter. Bank of America Corp DE now owns 472,195 shares of the company's stock worth $9,727,000 after buying an additional 361,721 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Flowco in the 1st quarter worth approximately $4,765,000. Emerald Advisers LLC acquired a new position in shares of Flowco in the 1st quarter worth approximately $7,971,000. Finally, Walleye Capital LLC acquired a new position in shares of Flowco in the 1st quarter worth approximately $6,121,000.

Flowco Company Profile

Flowco Holdings Inc is an energy-services company that provides production optimization and emissions-reduction solutions to oil and natural gas producers. The company focuses on technologies and services that help operators improve the performance, reliability and efficiency of producing wells.

Its offerings include artificial-lift systems, wellhead compression, vapor recovery and other equipment designed to support oil and gas production. Flowco also provides automation, monitoring and related field services intended to help customers manage production operations and reduce emissions from their assets.

Flowco serves customers across major U.S.

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