Flowco (NYSE:FLOC) Stock Rating Upgraded by Zacks Research

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

FLOC has been the topic of several other reports. Weiss Ratings upgraded Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Piper Sandler cut their price target on Flowco from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Citigroup cut 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. Finally, Wall Street Zen lowered Flowco from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Flowco has a consensus rating of “Moderate Buy” and an average target price of $28.40.

Flowco Trading Up 1.4%

FLOC stock opened at $19.53 on Monday. Flowco has a 12-month low of $14.06 and a 12-month high of $28.26. The business’s 50-day moving average is $20.70 and its 200 day moving average is $21.99. 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 stock has a market cap of $1.76 billion, a price-to-earnings ratio of 15.75 and a beta of 1.04.

Flowco (NYSE:FLOC) last announced its earnings results on Tuesday, August 11th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Flowco had a net margin of 6.07% and a return on equity of 35.21%. The firm had revenue of $235.86 million for the quarter. On average, sell-side analysts anticipate that Flowco will post 1.28 EPS for the current fiscal year.

Institutional Trading of Flowco

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. grew its holdings in shares of Flowco by 42.3% during the 1st quarter. Sei Investments Co. now owns 178,062 shares of the company’s stock worth $3,668,000 after purchasing an additional 52,961 shares during the period. Bank of America Corp DE lifted its position in Flowco by 327.4% in the first quarter. Bank of America Corp DE now owns 472,195 shares of the company’s stock valued at $9,727,000 after buying an additional 361,721 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Flowco during the first quarter worth about $4,765,000. Emerald Advisers LLC purchased a new position in Flowco during the first quarter worth about $7,971,000. Finally, Walleye Capital LLC purchased a new position in Flowco during the first quarter worth about $6,121,000.

About Flowco

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.