Credit Suisse Group upgraded shares of Flowserve (NYSE:FLS) from a neutral rating to an outperform rating in a research report sent to investors on Friday, BenzingaRatingsTable reports.
FLS has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Flowserve from a hold rating to a buy rating and set a $57.00 target price on the stock in a research report on Friday, May 17th. ValuEngine cut shares of Flowserve from a buy rating to a hold rating in a research report on Thursday. Citigroup upgraded shares of Flowserve from a neutral rating to a buy rating and boosted their price objective for the company from $55.00 to $61.00 in a research report on Monday, July 8th. Stifel Nicolaus boosted their price objective on shares of Flowserve from $49.00 to $52.00 and gave the company a hold rating in a research report on Monday, July 15th. Finally, Morgan Stanley boosted their price objective on shares of Flowserve from $46.00 to $47.00 and gave the company an underweight rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Flowserve currently has a consensus rating of Hold and a consensus price target of $49.54.
NYSE:FLS traded down $0.78 during trading hours on Friday, reaching $44.43. The company’s stock had a trading volume of 72,816 shares, compared to its average volume of 969,098. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.32 and a beta of 1.63. The firm’s 50-day moving average price is $51.37. Flowserve has a 1 year low of $35.88 and a 1 year high of $56.86. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.28 and a quick ratio of 1.57.
Flowserve (NYSE:FLS) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $990.08 million for the quarter, compared to analysts’ expectations of $1 billion. Flowserve had a net margin of 5.41% and a return on equity of 15.75%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. Research analysts expect that Flowserve will post 2.2 EPS for the current year.
In other Flowserve news, insider John Lenander sold 5,761 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $49.32, for a total value of $284,132.52. Following the transaction, the insider now owns 16,568 shares in the company, valued at $817,133.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Flowserve by 20.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,816,759 shares of the industrial products company’s stock valued at $82,009,000 after purchasing an additional 310,976 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Flowserve by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 1,795,400 shares of the industrial products company’s stock valued at $68,149,000 after purchasing an additional 134,350 shares in the last quarter. Beutel Goodman & Co Ltd. boosted its stake in shares of Flowserve by 2.1% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 1,788,512 shares of the industrial products company’s stock valued at $60,413,000 after purchasing an additional 37,593 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Flowserve by 1.9% during the 1st quarter. Gabelli Funds LLC now owns 1,705,200 shares of the industrial products company’s stock valued at $76,973,000 after purchasing an additional 32,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Flowserve by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,041,122 shares of the industrial products company’s stock valued at $39,583,000 after purchasing an additional 42,447 shares in the last quarter. 98.53% of the stock is currently owned by hedge funds and other institutional investors.
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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