Flowserve (FLS) Rating Lowered to Hold at Stifel Nicolaus
Flowserve (NYSE:FLS) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Monday, MarketBeat reports. They presently have a $43.00 target price on the industrial products company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 3.39% from the stock’s current price.
A number of other brokerages have also recently weighed in on FLS. Zacks Investment Research upgraded Flowserve from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Boenning Scattergood reiterated a “hold” rating on shares of Flowserve in a research note on Thursday, November 2nd. Citigroup reiterated a “neutral” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Flowserve in a research note on Monday, October 9th. Robert W. Baird reiterated a “hold” rating and issued a $43.00 price objective on shares of Flowserve in a research note on Wednesday, October 4th. Finally, Goldman Sachs Group cut Flowserve from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $42.65 to $37.00 in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $43.17.
Flowserve (NYSE FLS) traded down $0.54 during mid-day trading on Monday, reaching $41.59. The company had a trading volume of 1,548,001 shares, compared to its average volume of 1,412,280. The stock has a market capitalization of $5,503.65, a PE ratio of 27.01, a price-to-earnings-growth ratio of 3.41 and a beta of 1.53. Flowserve has a 12-month low of $37.51 and a 12-month high of $52.10. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 2.12.
Several large investors have recently added to or reduced their stakes in FLS. Creative Planning increased its holdings in shares of Flowserve by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 141 shares during the period. Zions Bancorporation acquired a new position in shares of Flowserve in the third quarter valued at approximately $117,000. Federated Investors Inc. PA increased its holdings in shares of Flowserve by 1.8% in the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 46 shares during the period. Evercore Wealth Management LLC increased its holdings in shares of Flowserve by 41.2% in the second quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 756 shares during the period. Finally, Sciencast Management LP acquired a new position in shares of Flowserve in the second quarter valued at approximately $201,000.
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Flowserve Company Profile
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.
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