Flowserve (FLS) Rating Reiterated by Royal Bank of Canada

Flowserve (NYSE:FLS)‘s stock had its “sell” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Thursday. They presently have a $39.00 price objective on the industrial products company’s stock. Royal Bank of Canada’s target price points to a potential downside of 10.18% from the stock’s previous close.

Several other equities analysts have also commented on FLS. Stifel Nicolaus reaffirmed a “buy” rating and set a $49.00 price target on shares of Flowserve in a research report on Tuesday, October 17th. Zacks Investment Research lowered shares of Flowserve from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. BMO Capital Markets lowered shares of Flowserve from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $41.00 in a research report on Friday, November 3rd. Robert W. Baird reaffirmed a “hold” rating and set a $43.00 price target on shares of Flowserve in a research report on Wednesday, October 4th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Flowserve in a research report on Thursday, September 28th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.58.

Shares of Flowserve (FLS) traded up $1.24 during mid-day trading on Thursday, reaching $43.42. 1,200,400 shares of the company traded hands, compared to its average volume of 874,833. Flowserve has a 1 year low of $37.51 and a 1 year high of $52.10. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $5,670.00, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 2.58 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 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. Flowserve had a net margin of 4.58% and a return on equity of 12.09%. The firm had revenue of $883.38 million during the quarter, compared to analyst estimates of $871.20 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. Flowserve’s revenue for the quarter was down 6.6% compared to the same quarter last year. sell-side analysts anticipate that Flowserve will post 1.37 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Federated Investors Inc. PA boosted its stake 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 boosted its stake 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. Zions Bancorporation purchased a new position in shares of Flowserve in the third quarter valued at $117,000. Sciencast Management LP purchased a new position in shares of Flowserve in the second quarter valued at $201,000. Finally, Blair William & Co. IL purchased a new position in shares of Flowserve in the second quarter valued at $204,000.

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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.

Analyst Recommendations for Flowserve (NYSE:FLS)

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