Flowserve Corp (FLS) Receives $44.10 Consensus Price Target from Brokerages

Flowserve Corp (NYSE:FLS) has been given an average recommendation of “Hold” by the eighteen ratings firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $42.91.

Several brokerages have recently issued reports on FLS. Stifel Nicolaus cut shares of Flowserve from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research report on Monday. Goldman Sachs Group cut shares of Flowserve from a “neutral” rating to a “sell” rating and decreased their target price for the company from $42.65 to $37.00 in a research report on Thursday, December 7th. Zacks Investment Research cut shares of Flowserve from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Royal Bank of Canada restated an “underperform” rating and set a $36.00 target price (down from $38.00) on shares of Flowserve in a research report on Friday, November 3rd. Finally, Seaport Global Securities cut shares of Flowserve from a “buy” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $40.00 in a research report on Friday, November 3rd.

Shares of Flowserve (NYSE:FLS) traded down $0.34 during midday trading on Thursday, hitting $41.25. 987,360 shares of the stock traded hands, compared to its average volume of 1,412,315. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.30. The stock has a market cap of $5,503.65, a PE ratio of 27.01, a price-to-earnings-growth ratio of 3.41 and a beta of 1.53. Flowserve has a 52-week low of $37.51 and a 52-week high of $52.10.

Flowserve (NYSE:FLS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. The firm had revenue of $883.38 million for the quarter, compared to analysts’ expectations of $871.20 million. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. equities analysts forecast that Flowserve will post 1.38 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Creative Planning grew its holdings in Flowserve by 6.2% during the 2nd quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 141 shares during the last quarter. Zions Bancorporation bought a new position in Flowserve during the 3rd quarter valued at about $117,000. Federated Investors Inc. PA grew its holdings in Flowserve by 1.8% during the 2nd quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 46 shares during the last quarter. Evercore Wealth Management LLC grew its holdings in Flowserve by 41.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 756 shares during the last quarter. Finally, Sciencast Management LP bought a new position in Flowserve during the 2nd quarter valued at about $201,000.

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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.

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