Flowserve Corp. Stock Rating Reaffirmed by Zacks (FLS)
Flowserve Corp. (NYSE:FLS)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Friday, Stock Ratings News reports. They currently have a $80.00 price target on the stock. Zacks‘ target price points to a potential upside of 5.04% from the company’s current price.
Zacks‘ analyst wrote, “Flowserve develops and manufactures precision-engineered flow control equipment. We are reaffirming our Neutral recommendation on the company with an $80.00 target price. The company reported strong results for the third quarter of 2013 with earnings up 22% year over year. Profits were driven by continued growth in bookings, improvement in both sales and margin figures, and reduced share counts. However, earnings are impacted by low sales in Industrial Products and reduced flow control margins. However, during the quarter, the company’s Industrial Product division reported a decline in revenues due to lower bookings in the segment. In addition, the Flow Control division also declined due to lower bookings.”
Flowserve Corp. (NYSE:FLS) traded down 3.97% during mid-day trading on Friday, hitting $73.14. 1,352,313 shares of the company’s stock traded hands. Flowserve Corp. has a one year low of $50.0033 and a one year high of $78.89. The stock’s 50-day moving average is $75.52 and its 200-day moving average is $65.27. The company has a market cap of $10.201 billion and a price-to-earnings ratio of 22.69.
FLS has been the subject of a number of other recent research reports. Analysts at Jefferies Group upgraded shares of Flowserve Corp. from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, January 14th. They now have a $93.00 price target on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of Flowserve Corp. in a research note to investors on Tuesday, January 7th. They set a “buy” rating on the stock. Finally, analysts at SunTrust initiated coverage on shares of Flowserve Corp. in a research note to investors on Monday, November 25th. They set a “buy” rating on the stock. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $109.50.
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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