Flowserve (NYSE:FLS) Rating Lowered to Buy at Wall Street Zen

Flowserve (NYSE:FLS) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

Other analysts have also issued research reports about the company. Stifel Nicolaus set a $84.00 price objective on Flowserve in a report on Thursday, October 30th. The Goldman Sachs Group upped their price target on shares of Flowserve from $64.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. UBS Group boosted their target price on shares of Flowserve from $65.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Royal Bank Of Canada raised their target price on shares of Flowserve from $66.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.33.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $71.35 on Friday. The company has a market cap of $9.07 billion, a P/E ratio of 20.74, a PEG ratio of 1.38 and a beta of 1.32. Flowserve has a one year low of $37.34 and a one year high of $72.08. The business’s 50-day simple moving average is $60.03 and its 200 day simple moving average is $55.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.50 and a current ratio of 2.10.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a net margin of 9.66% and a return on equity of 19.41%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. Flowserve has set its FY 2025 guidance at 3.400-3.500 EPS. On average, sell-side analysts forecast that Flowserve will post 3.18 earnings per share for the current fiscal year.

Insider Activity at Flowserve

In other news, CFO Amy B. Schwetz sold 47,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $71.02, for a total value of $3,337,940.00. Following the sale, the chief financial officer owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This represents a 47.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Claire Hudson sold 10,667 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $70.01, for a total transaction of $746,796.67. Following the transaction, the insider owned 6,589 shares in the company, valued at approximately $461,295.89. This trade represents a 61.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 59,276 shares of company stock worth $4,196,578. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Flowserve

Institutional investors have recently made changes to their positions in the stock. Avantax Advisory Services Inc. lifted its holdings in Flowserve by 24.1% during the first quarter. Avantax Advisory Services Inc. now owns 5,991 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 1,163 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Flowserve by 57.2% during the first quarter. Cetera Investment Advisers now owns 15,854 shares of the industrial products company’s stock worth $774,000 after purchasing an additional 5,769 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Flowserve by 2.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,096 shares of the industrial products company’s stock worth $1,763,000 after purchasing an additional 914 shares during the period. LPL Financial LLC lifted its holdings in shares of Flowserve by 5.4% during the 1st quarter. LPL Financial LLC now owns 70,081 shares of the industrial products company’s stock valued at $3,423,000 after purchasing an additional 3,562 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Flowserve by 585.9% in the 1st quarter. Mackenzie Financial Corp now owns 77,620 shares of the industrial products company’s stock valued at $3,791,000 after purchasing an additional 66,303 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

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.