Flowco (NYSE:FLOC) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Flowco from “hold” to “strong sell,” while broader analyst sentiment remains mixed with an average “hold” rating and a $29.20 price target.
• Flowco shares opened at $22.65, below the average analyst target, and have traded between $14.03 and $28.26 over the past year.
• The company reported quarterly EPS of $0.28, missing the $0.37 consensus estimate by $0.09, on revenue of $235.86 million.

Flowco (NYSE:FLOC - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. Weiss Ratings raised Flowco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Jefferies Financial Group reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Flowco in a report on Thursday, May 7th. Piper Sandler cut their target price on Flowco from $32.00 to $31.00 and set an "overweight" rating for the company in a research report on Tuesday, July 14th. Citigroup began coverage on Flowco in a report on Thursday, May 28th. They set a "neutral" rating and a $31.00 target price on the stock. Finally, Wall Street Zen cut Flowco from a "buy" rating to a "hold" rating in a research report on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Flowco has an average rating of "Hold" and an average target price of $29.20.

Flowco Price Performance

Shares of Flowco stock opened at $22.65 on Thursday. 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 stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 18.27 and a beta of 0.90. Flowco has a twelve month low of $14.03 and a twelve month high of $28.26. The company has a 50-day simple moving average of $21.28 and a two-hundred day simple moving average of $22.67.

Flowco (NYSE:FLOC - Get Free Report) last announced 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 return on equity of 35.21% and a net margin of 6.07%.The business had revenue of $235.86 million for the quarter. Analysts forecast that Flowco will post 1.51 EPS for the current year.

Institutional Investors Weigh In On Flowco

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLOC. Zions Bancorporation National Association UT bought a new position in shares of Flowco in the 4th quarter valued at $29,000. Parallel Advisors LLC lifted its position in shares of Flowco by 8,929.4% during the 4th quarter. Parallel Advisors LLC now owns 1,535 shares of the company's stock worth $29,000 after buying an additional 1,518 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Flowco in the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC grew its position in Flowco by 95.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company's stock valued at $47,000 after acquiring an additional 1,292 shares during the last quarter. Finally, Strs Ohio bought a new position in Flowco in the first quarter valued at about $92,000.

Flowco Company Profile

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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