Flowserve (NYSE:FLS) Rating Lowered to Buy at StockNews.com

Flowserve (NYSE:FLS) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other analysts also recently issued reports on FLS. Citigroup raised their price target on Flowserve from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Mizuho raised their price target on Flowserve from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada increased their target price on Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 22nd. Robert W. Baird increased their target price on Flowserve from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus increased their target price on Flowserve from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Flowserve currently has a consensus rating of “Hold” and an average target price of $48.25.

Flowserve Trading Down 0.1 %

FLS traded down $0.04 during trading on Thursday, reaching $45.63. The company had a trading volume of 1,013,108 shares, compared to its average volume of 1,087,759. The stock has a market cap of $5.99 billion, a P/E ratio of 32.36, a PEG ratio of 1.32 and a beta of 1.46. The business has a 50 day simple moving average of $44.43 and a 200-day simple moving average of $40.93. Flowserve has a 52 week low of $32.05 and a 52 week high of $48.31. The company has a quick ratio of 1.27, a current ratio of 1.88 and a debt-to-equity ratio of 0.59.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.14 billion. Flowserve had a return on equity of 14.44% and a net margin of 4.32%. Flowserve’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. On average, equities analysts anticipate that Flowserve will post 2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Institutional investors have recently made changes to their positions in the company. State of Michigan Retirement System grew its stake in Flowserve by 2.5% in the first quarter. State of Michigan Retirement System now owns 32,268 shares of the industrial products company’s stock valued at $1,474,000 after purchasing an additional 800 shares during the last quarter. Oak Thistle LLC purchased a new position in Flowserve in the first quarter valued at about $545,000. Diversified Trust Co grew its stake in Flowserve by 14.5% in the first quarter. Diversified Trust Co now owns 90,267 shares of the industrial products company’s stock valued at $4,123,000 after purchasing an additional 11,456 shares during the last quarter. Dumont & Blake Investment Advisors LLC purchased a new position in Flowserve in the first quarter valued at about $456,000. Finally, First Bank & Trust purchased a new position in Flowserve in the first quarter valued at about $211,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

About Flowserve

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.