Citigroup Trims Flowserve (NYSE:FLS) Target Price to $38.00

Flowserve (NYSE:FLSGet Rating) had its price target cut by research analysts at Citigroup from $42.00 to $38.00 in a research report issued on Wednesday, The Fly reports. Citigroup’s price target would suggest a potential upside of 15.50% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley increased their price target on shares of Flowserve from $32.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, April 7th. Credit Suisse Group dropped their price target on Flowserve from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, February 25th. Stifel Nicolaus raised their price objective on Flowserve from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 18th. StockNews.com began coverage on Flowserve in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Mizuho upgraded Flowserve from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $35.00 in a report on Friday, February 25th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $38.44.

Shares of NYSE FLS traded up $0.03 during midday trading on Wednesday, reaching $32.90. The stock had a trading volume of 1,973,387 shares, compared to its average volume of 1,560,094. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.51 and a current ratio of 2.11. Flowserve has a twelve month low of $28.15 and a twelve month high of $44.39. The company’s 50 day moving average price is $33.97 and its 200 day moving average price is $32.97. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 42.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.58.

Flowserve (NYSE:FLSGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The industrial products company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.14). Flowserve had a net margin of 3.56% and a return on equity of 10.15%. During the same quarter in the prior year, the business posted $0.28 EPS. Equities analysts forecast that Flowserve will post 1.78 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of FLS. Trust Co. of Vermont bought a new position in shares of Flowserve during the 4th quarter valued at approximately $28,000. Systematic Alpha Investments LLC bought a new position in shares of Flowserve during the 3rd quarter valued at approximately $37,000. Covestor Ltd bought a new position in shares of Flowserve during the 4th quarter valued at approximately $47,000. Eagle Bay Advisors LLC increased its position in shares of Flowserve by 33.2% during the 3rd quarter. Eagle Bay Advisors LLC now owns 1,547 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 386 shares during the last quarter. Finally, Ellevest Inc. increased its position in shares of Flowserve by 284.3% during the 4th quarter. Ellevest Inc. now owns 1,806 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,336 shares during the last quarter. 97.65% of the stock is currently owned by institutional investors and hedge funds.

About Flowserve (Get Rating)

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket 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.

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