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

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

A number of other equities analysts have also weighed in on FLOC. Weiss Ratings upgraded shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Citigroup assumed coverage on shares of Flowco in a research note on Thursday, May 28th. They issued a “neutral” rating and a $31.00 price target on the stock. Piper Sandler dropped their price objective on shares of Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. 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. Finally, Wall Street Zen downgraded Flowco from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.20.

Flowco Stock Down 0.2%

Shares of FLOC opened at $22.65 on Thursday. The business’s 50 day moving average is $21.28 and its 200 day moving average is $22.67. The company has a current ratio of 2.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.84. Flowco has a 12-month low of $14.03 and a 12-month high of $28.26. The company has a market capitalization of $2.05 billion, a PE ratio of 18.27 and a beta of 0.90.

Flowco (NYSE:FLOC) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The business 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%. Research analysts expect that Flowco will post 1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowco

A number of institutional investors and hedge funds have recently made changes to their positions in FLOC. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Flowco during the 1st quarter valued at about $4,765,000. Sei Investments Co. grew its position in Flowco by 42.3% in the first quarter. Sei Investments Co. now owns 178,062 shares of the company’s stock worth $3,668,000 after acquiring an additional 52,961 shares in the last quarter. Emerald Advisers LLC bought a new stake in Flowco during the first quarter worth approximately $7,971,000. Walleye Capital LLC purchased a new stake in Flowco during the first quarter valued at approximately $6,121,000. Finally, First Trust Advisors LP lifted its stake in shares of Flowco by 107.6% in the 1st quarter. First Trust Advisors LP now owns 144,706 shares of the company’s stock valued at $2,981,000 after purchasing an additional 74,998 shares during the last quarter.

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.