Flowserve (NYSE:FLS) had its price objective boosted by research analysts at Stifel Nicolaus from $47.00 to $52.00 in a research note issued on Monday. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 3.22% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the company. Morgan Stanley started coverage on Flowserve in a report on Monday, August 20th. They issued an “equal weight” rating and a $50.00 target price for the company. Northcoast Research raised Flowserve from a “neutral” rating to a “buy” rating in a report on Thursday, September 13th. SunTrust Banks raised their price target on Flowserve to $46.00 and gave the company a “hold” rating in a report on Friday, August 10th. Seaport Global Securities reaffirmed a “hold” rating and set a $47.00 price target on shares of Flowserve in a report on Monday, August 13th. Finally, Cowen raised their price target on Flowserve from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. Flowserve currently has an average rating of “Hold” and a consensus price target of $48.75.
Shares of FLS opened at $53.73 on Monday. Flowserve has a 1 year low of $37.71 and a 1 year high of $56.86. The company has a quick ratio of 1.61, a current ratio of 2.25 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $7.16 billion, a PE ratio of 39.51, a P/E/G ratio of 1.87 and a beta of 1.53.
Flowserve (NYSE:FLS) last issued its earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.08. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. The business had revenue of $973.13 million during the quarter, compared to analysts’ expectations of $923.89 million. During the same period in the prior year, the firm posted $0.22 EPS. Flowserve’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Flowserve will post 1.7 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Zurich Insurance Group Ltd FI acquired a new stake in Flowserve during the 2nd quarter valued at $131,000. Visionary Asset Management Inc. bought a new position in Flowserve in the 3rd quarter valued at $218,000. Point72 Hong Kong Ltd bought a new position in Flowserve in the 2nd quarter valued at $163,000. Tower Research Capital LLC TRC bought a new position in Flowserve in the 2nd quarter valued at $174,000. Finally, Marshwinds Advisory Co. bought a new position in Flowserve in the 3rd quarter valued at $246,000.
Flowserve Company Profile
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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