StockNews.com Downgrades Flowserve (NYSE:FLS) to Buy

Flowserve (NYSE:FLS) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other equities analysts have also weighed in on the stock. Robert W. Baird raised their price objective on shares of Flowserve from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Mizuho raised their price objective on shares of Flowserve from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada raised their price objective on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. Citigroup raised their price objective on shares of Flowserve from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus lifted their price target on shares of Flowserve from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.25.

Flowserve Price Performance

NYSE FLS opened at $46.77 on Friday. The company has a 50 day simple moving average of $44.88 and a 200-day simple moving average of $41.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.88 and a quick ratio of 1.27. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.46. Flowserve has a 52-week low of $32.37 and a 52-week high of $48.31.

Flowserve (NYSE:FLS) last posted 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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. Flowserve had a net margin of 4.32% and a return on equity of 14.44%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Equities research analysts predict that Flowserve will post 2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flowserve

Institutional investors and hedge funds have recently bought and sold shares of the business. Contravisory Investment Management Inc. bought a new stake in Flowserve in the 4th quarter valued at $26,000. YHB Investment Advisors Inc. bought a new stake in shares of Flowserve in the 1st quarter worth about $36,000. Raleigh Capital Management Inc. grew its holdings in shares of Flowserve by 122.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 596 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in shares of Flowserve by 14,663.6% in the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,613 shares during the last quarter. Finally, CWM LLC lifted its position in Flowserve by 153.0% during the 3rd quarter. CWM LLC now owns 1,986 shares of the industrial products company’s stock worth $79,000 after buying an additional 1,201 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Company Profile

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.