Flowserve (FLS) Given “Hold” Rating at Robert W. Baird

Flowserve (NYSE:FLS)‘s stock had its “hold” rating restated by investment analysts at Robert W. Baird in a report released on Friday. They presently have a $45.00 price target on the industrial products company’s stock. Robert W. Baird’s price objective points to a potential upside of 9.36% from the company’s current price.

A number of other analysts also recently weighed in on FLS. Stifel Nicolaus downgraded Flowserve from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a report on Monday. Goldman Sachs Group downgraded Flowserve from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $42.65 to $37.00 in a report on Thursday, December 7th. Zacks Investment Research downgraded Flowserve from a “hold” rating to a “sell” rating in a report on Monday, November 6th. BMO Capital Markets downgraded Flowserve from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $51.00 to $41.00 in a research note on Friday, November 3rd. Finally, KeyCorp restated a “hold” rating on shares of Flowserve in a research note on Thursday, September 28th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $43.33.

Shares of Flowserve (FLS) traded up $0.95 during trading on Friday, reaching $41.15. The company’s stock had a trading volume of 1,823,806 shares, compared to its average volume of 1,410,964. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.30 and a current ratio of 2.12. Flowserve has a 52-week low of $37.51 and a 52-week high of $52.10. The firm has a market cap of $5,358.65, a P/E ratio of 26.30, a P/E/G ratio of 3.32 and a beta of 1.53.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. Flowserve had a return on equity of 12.09% and a net margin of 4.58%. The firm had revenue of $883.38 million during the quarter, compared to the consensus estimate of $871.20 million. During the same period last year, the business posted $0.52 EPS. The business’s revenue was down 6.6% compared to the same quarter last year. analysts forecast that Flowserve will post 1.38 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of FLS. Federated Investors Inc. PA boosted its stake in Flowserve by 1.8% during the 2nd 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 last quarter. Sentry Investment Management LLC boosted its stake in Flowserve by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 9,306 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 89 shares during the last quarter. Arizona State Retirement System boosted its stake in Flowserve by 0.3% during the 2nd quarter. Arizona State Retirement System now owns 32,392 shares of the industrial products company’s stock valued at $1,504,000 after purchasing an additional 100 shares during the last quarter. Eaton Vance Management boosted its stake in Flowserve by 0.6% during the 2nd quarter. Eaton Vance Management now owns 20,098 shares of the industrial products company’s stock valued at $933,000 after purchasing an additional 114 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in Flowserve by 2.5% during the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 126 shares during the last quarter.

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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.

Analyst Recommendations for Flowserve (NYSE:FLS)

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