Citigroup Lowers Flowserve (NYSE:FLS) Price Target to $35.00

Flowserve (NYSE:FLSGet Rating) had its price target decreased by equities research analysts at Citigroup from $39.00 to $35.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “buy” rating on the industrial products company’s stock. Citigroup’s price objective would suggest a potential upside of 27.23% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Credit Suisse Group lowered Flowserve from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $38.00 to $31.00 in a research note on Thursday. Bank of America upgraded Flowserve from an “underperform” rating to a “neutral” rating and set a $31.00 price target on the stock in a research note on Monday, July 11th. Finally, Royal Bank of Canada decreased their price target on Flowserve from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.50.

Flowserve Price Performance

Shares of NYSE FLS opened at $27.51 on Thursday. The stock has a market capitalization of $3.60 billion, a PE ratio of 37.68, a P/E/G ratio of 1.25 and a beta of 1.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.09 and a quick ratio of 1.40. The business has a fifty day moving average price of $31.41 and a two-hundred day moving average price of $31.85. Flowserve has a fifty-two week low of $26.84 and a fifty-two week high of $38.39.

Flowserve (NYSE:FLSGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $882.22 million during the quarter, compared to analysts’ expectations of $886.53 million. Flowserve had a return on equity of 8.12% and a net margin of 2.74%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS. As a group, equities analysts predict that Flowserve will post 1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in shares of Flowserve by 102.2% in the 1st quarter. SG Americas Securities LLC now owns 80,640 shares of the industrial products company’s stock valued at $2,895,000 after buying an additional 40,760 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Flowserve by 67.7% in the 4th quarter. Raymond James & Associates now owns 66,565 shares of the industrial products company’s stock valued at $2,037,000 after purchasing an additional 26,876 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Flowserve by 21.6% in the 1st quarter. Russell Investments Group Ltd. now owns 957,140 shares of the industrial products company’s stock valued at $34,357,000 after purchasing an additional 170,315 shares during the period. Cibc World Markets Corp acquired a new position in shares of Flowserve in the 4th quarter valued at about $2,512,000. Finally, Woodstock Corp lifted its stake in shares of Flowserve by 14.3% in the 1st quarter. Woodstock Corp now owns 38,629 shares of the industrial products company’s stock valued at $1,387,000 after purchasing an additional 4,820 shares during the period. Institutional investors own 99.73% of the company’s stock.

Flowserve Company Profile

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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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