Flowserve (NYSE:FLS) Lifted to Strong-Buy at StockNews.com

Flowserve (NYSE:FLS) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.

FLS has been the subject of a number of other research reports. Citigroup upped their target price on Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird upped their price objective on shares of Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen raised their target price on shares of Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada boosted their target price on shares of Flowserve from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. Finally, Mizuho reaffirmed a “buy” rating and issued a $53.00 price target (up from $50.00) on shares of Flowserve in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.55.

Flowserve Stock Up 0.5 %

Flowserve stock opened at $47.52 on Friday. The company has a market capitalization of $6.26 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.24 and a beta of 1.42. Flowserve has a 1-year low of $32.49 and a 1-year high of $49.35. The firm’s fifty day simple moving average is $45.45 and its 200-day simple moving average is $41.58. The company has a current ratio of 1.88, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. Sell-side analysts forecast that Flowserve will post 2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flowserve

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of Flowserve by 92.6% during the third quarter. Commonwealth Equity Services LLC now owns 15,667 shares of the industrial products company’s stock valued at $623,000 after purchasing an additional 7,533 shares during the period. Raymond James & Associates increased its holdings in Flowserve by 9.7% in the 3rd quarter. Raymond James & Associates now owns 431,223 shares of the industrial products company’s stock valued at $17,150,000 after buying an additional 38,242 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Flowserve in the 3rd quarter valued at $2,053,000. Verdence Capital Advisors LLC lifted its holdings in shares of Flowserve by 3.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,606 shares of the industrial products company’s stock worth $382,000 after acquiring an additional 291 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Flowserve by 19.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,016 shares of the industrial products company’s stock worth $1,074,000 after acquiring an additional 4,475 shares during the period. 93.93% of the stock is currently owned by institutional investors.

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.