Flowserve Corp. Given New $73.00 Price Target at BB&T Corp. (FLS)
Analysts at BB&T Corp. boosted their target price on shares of Flowserve Corp. (NYSE:FLS) to $73.00 in a research report issued to clients and investors on Friday, American Banking and Market News reports. The firm currently has a “buy” rating on the stock. BB&T Corp.’s price objective points to a potential upside of 2.50% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Merrill Lynch initiated coverage on shares of Flowserve Corp. in a research note to investors on Wednesday, October 16th. They set a “buy” rating on the stock. Separately, analysts at Bank of America Corp. initiated coverage on shares of Flowserve Corp. in a research note to investors on Wednesday, October 16th. They set a “buy” rating and a $72.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Flowserve Corp. in a research note to investors on Friday, August 16th. They now have a $59.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $117.14.
Flowserve Corp. (NYSE:FLS) traded up 12.18% during mid-day trading on Friday, hitting $71.22. 4,119,593 shares of the company’s stock traded hands. Flowserve Corp. has a 1-year low of $42.0667 and a 1-year high of $61.71. The stock has a 50-day moving average of $57.4 and a 200-day moving average of $55.28. The company has a market cap of $10.014 billion and a price-to-earnings ratio of 20.19.
Flowserve Corp. (NYSE:FLS) last released its earnings data on Friday, October 25th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.84 by $0.06. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $2.07 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts predict that Flowserve Corp. will post $3.40 earnings per share for the current fiscal year.
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company develops and manufacture precision-engineered flows control equipment integral to the movement, control and protection of the flow of materials in its customers’ critical processes.
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