Flowco (NYSE:FLOC) Downgraded by Wall Street Zen to "Hold"

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’ average price target is $29.20, compared with Flowco’s Monday opening price of $23.62; individual targets include $31 from Citigroup and $33 from Jefferies.
• Flowco reported quarterly EPS of $0.28, missing the $0.37 consensus estimate by $0.09, though revenue reached $235.86 million and the company posted a 35.21% return on equity.

Flowco (NYSE:FLOC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Several other analysts also recently weighed in on FLOC. Jefferies Financial Group restated a "buy" rating and set a $33.00 price objective on shares of Flowco in a research report on Thursday, May 7th. Zacks Research downgraded Flowco from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Citigroup assumed coverage on shares of Flowco in a research note on Thursday, May 28th. They issued a "neutral" rating and a $31.00 target price for the company. Weiss Ratings downgraded Flowco from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 3rd. Finally, Piper Sandler decreased their price objective on shares of Flowco from $32.00 to $31.00 and set an "overweight" rating on the stock in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Flowco has an average rating of "Moderate Buy" and an average price target of $29.20.

Flowco Stock Performance

Shares of FLOC opened at $23.62 on Monday. Flowco has a 1 year low of $14.03 and a 1 year high of $28.26. The stock has a 50-day simple moving average of $21.38 and a 200-day simple moving average of $22.60. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67. The stock has a market capitalization of $2.13 billion, a PE ratio of 19.05 and a beta of 0.90.

Flowco (NYSE:FLOC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). The firm had revenue of $235.86 million for the quarter. Flowco had a return on equity of 35.21% and a net margin of 6.07%. On average, analysts predict that Flowco will post 1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flowco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flowco in the first quarter worth $298,000. Goldman Sachs Group Inc. acquired a new position in shares of Flowco during the 1st quarter valued at $878,000. Woodline Partners LP purchased a new stake in Flowco during the 1st quarter worth $1,282,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Flowco in the 1st quarter valued at $3,070,000. Finally, Strs Ohio purchased a new position in Flowco in the first quarter valued at about $92,000.

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.

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