Flowserve Corporation (NYSE:FLS)‘s stock had its “underperform” rating reissued by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Friday. They presently have a $36.00 price target on the industrial products company’s stock, down from their previous price target of $38.00.

Several other equities analysts have also recently commented on FLS. Stifel Nicolaus restated a “buy” rating and set a $45.00 price target on shares of Flowserve Corporation in a report on Sunday, September 3rd. BidaskClub cut shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Wolfe Research initiated coverage on shares of Flowserve Corporation in a report on Tuesday, July 11th. They set an “underperform” rating and a $38.00 price target on the stock. Finally, Citigroup Inc. restated a “neutral” rating and set a $48.00 price target (up from $46.00) on shares of Flowserve Corporation in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Flowserve Corporation has an average rating of “Hold” and a consensus target price of $46.73.

Flowserve Corporation (NYSE:FLS) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.03. Flowserve Corporation had a net margin of 4.58% and a return on equity of 12.25%. The firm had revenue of $883.38 million for the quarter, compared to analysts’ expectations of $871.20 million. During the same period in the previous year, the company posted $0.52 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year.

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Large investors have recently modified their holdings of the stock. Huntington National Bank boosted its holdings in Flowserve Corporation by 28.0% in the second quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 480 shares in the last quarter. Creative Planning lifted its position in Flowserve Corporation by 6.2% during the 2nd quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 141 shares during the last quarter. Federated Investors Inc. PA lifted its position in Flowserve Corporation by 1.8% during the 2nd quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 46 shares during the last quarter. Evercore Wealth Management LLC lifted its position in Flowserve Corporation by 41.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 756 shares during the last quarter. Finally, Sciencast Management LP acquired a new position in Flowserve Corporation during the 2nd quarter worth $201,000.

About Flowserve Corporation

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analyst Recommendations for Flowserve Corporation (NYSE:FLS)

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