Flowserve Corp (FLS) Receives $43.90 Consensus Target Price from Brokerages

Shares of Flowserve Corp (NYSE:FLS) have been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $43.90.

A number of research analysts have commented on FLS shares. BMO Capital Markets downgraded shares of Flowserve from an “outperform” rating to a “market perform” rating and cut their target price for the company from $51.00 to $41.00 in a research report on Friday, November 3rd. Royal Bank of Canada reissued a “sell” rating and set a $39.00 target price on shares of Flowserve in a research report on Thursday, January 4th. Robert W. Baird reissued a “hold” rating and set a $45.00 target price on shares of Flowserve in a research report on Friday, December 15th. Boenning Scattergood reissued a “hold” rating on shares of Flowserve in a research report on Thursday, November 2nd. Finally, Seaport Global Securities downgraded shares of Flowserve from a “buy” rating to a “neutral” rating and cut their target price for the company from $60.00 to $40.00 in a research report on Friday, November 3rd.

Several institutional investors have recently modified their holdings of FLS. Thrivent Financial For Lutherans grew its position in shares of Flowserve by 3.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,970 shares of the industrial products company’s stock worth $231,000 after buying an additional 170 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Flowserve by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 155,541 shares of the industrial products company’s stock worth $7,221,000 after buying an additional 7,820 shares during the last quarter. Verition Fund Management LLC grew its position in shares of Flowserve by 2.5% in the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock worth $243,000 after buying an additional 126 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Flowserve by 25.3% in the 2nd quarter. Toronto Dominion Bank now owns 44,637 shares of the industrial products company’s stock worth $2,071,000 after buying an additional 9,006 shares during the last quarter. Finally, Sentry Investment Management LLC grew its position in shares of Flowserve by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 9,306 shares of the industrial products company’s stock worth $432,000 after buying an additional 89 shares during the last quarter.

Shares of Flowserve (FLS) traded up $0.68 on Tuesday, reaching $44.26. 799,168 shares of the company were exchanged, compared to its average volume of 1,634,896. Flowserve has a one year low of $37.51 and a one year high of $51.92. The company has a market cap of $5,768.05, a price-to-earnings ratio of 33.03, a price-to-earnings-growth ratio of 1.69 and a beta of 1.53. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.90.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). Flowserve had a negative net margin of 0.04% and a positive return on equity of 10.36%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. equities analysts predict that Flowserve will post 1.65 EPS for the current year.

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Flowserve Company Profile

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analyst Recommendations for Flowserve (NYSE:FLS)

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