Flowco (NYSE:FLOC) Stock Rating Lowered by Wall Street Zen

Flowco (NYSE:FLOC) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Monday.

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

Flowco Stock Down 2.0%

FLOC stock opened at $22.94 on Monday. Flowco has a one year low of $14.03 and a one year high of $28.26. The firm has a market cap of $2.07 billion, a PE ratio of 18.50 and a beta of 0.90. The firm’s 50 day moving average price is $21.35 and its 200-day moving average price is $22.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.33 and a current ratio of 2.67.

Flowco (NYSE:FLOC) last issued its quarterly earnings data 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). Flowco had a return on equity of 35.21% and a net margin of 6.07%.The business had revenue of $235.86 million during the quarter. On average, equities research analysts anticipate that Flowco will post 1.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake 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 period. Lazard Asset Management LLC grew 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 worth $2,639,000 after acquiring an additional 25,144 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Flowco by 1.8% during the first 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. Renaissance Technologies LLC increased its position in shares of Flowco by 237.6% during the first quarter. Renaissance Technologies LLC now owns 396,000 shares of the company’s stock worth $8,158,000 after acquiring an additional 278,700 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flowco in the first quarter valued at $369,000.

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.